Question 7: Using the relevant information below, prepare a properly formatted MULTI-STEP Income Statement WITH 4 common size percents: 5 6 7 Debit Credit Accounts Receivable Merchandise Inventory 9 Retained Earnings, Jan 1 0 $82,910 $85,120 $73,470 Dividends Sales $1,630 $680,950 Sales Discounts $20,430 Sales Returns and Allowances $34,050 Cost of Goods Sold $279,750 Utilities Expense $51,540 Salaries Expense $82,830 Office Expense $101,920 8 Interest Revenue $2,200 Interest Expense $1,420 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 My Company Multi-Step Income Statement For the Year Ended August 31 Points Available: 20 Points Earned: