Question 2 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct The following selected accounts from the Blue Spruce Corp's accounting records are presented below for the year ended December 31, 2017 Advertising expense Common stock Cost of goods sold Depreciation expense Dividends Freight-out Income tax expense Insurance expense Interest expense $41.800 Interest revenue 190,000 Inventory 824,600 Rent revenue 95,000 Retained earnings 114,000 Salaries and wages expense 19.000 Sales discounts 53,200 Sales returns and allowances 11.400 Sales revenue 53.200 $ 22,800 50,920 18,240 406,600 513,000 6,460 31,160 1.824,000 Prepare a multiple-step income statement. BLUE SPRUCE CORP. Income Statement For the Year Ended December 31, 2017 Sales Revenue $ 1824000 Sales Discounts 6460 Sales Returns and Allowances 31160 Income Statement For the Year Ended December 31, 2017 Sales Revenue 1824000 Less Sales Discounts 6460 Sales Returns and Allowances 31140 Depreciation Expense Freight-Out Insurance Expense Salaries and Wages Expense Advertising Expense Total Operating Expenses Other Revenues and Gains Net Income /(Loss 216220