QUESTION 2 On December 31, 2020, the balances of the accounts appearing in the ledger of Home City Furnishings Company, a furniture wholesaler, are as follows: Rent revenue Accounts receivable Administrative expenses Selling expenses Sales Cash Cost of merchandise sold Interest expense $11,000 500,000 200,000 250,000 3,250,000 530,000 1,600,000 6,000 Prepare a multi-step income statement for the year ended December 31, 2020. Home City Furnishings Income Statement For the Year Ended December 31, 2020 Cash Cost of merchandise sold Interest expense 530,000 1,600,000 6,000 Prepare a multi-step income statement for the year ended December 31, 2020, Home City Furnishings Income Statement For the Year Ended December 31, 2020