Question VI (18 marks) Dobit Laurence Model Photography Studio has the following trial balance at their year end, March 31, 2020. E R EN Model Photography Studio Trial balance March 31, 2020 Account Credit Accounts payable $30,000 Accounts receivable $75,000 Accumulated depreciation, office equipment 9,000 Accumulated depreciation, store cash registrar 4.000 Advertising expense 2,500 Depreciation expense, office equipment 18,000 Depreciation expense, store cash registrar 8.000 Sales discounts 800 Cash 1 3,000 Cost of goods sold 217.900 Equipment 120.000 Insurance expense 2,500 Interest expense 400 Laurence, Capital 302.000 Laurence. Withdrawal 1.100 Inventory 2 20,000 Note payable 000 Rent expense, office 16,000 Rent expense, sales 4,000 Rent revenue Salary expense, office 12.000 Salary expense, sales 13,000 S 400,000 Sales returns and allowances 15.000 Supply 9.000 Supply expense, store 4.000 Totals $752,200 $752,200 Required Prepare a classified multiple step income statement in good form for the Model Photography Studio for their 2020 fiscal year Page 7 of 8