Required information. CP6-5 (Algo) Preparing a Multistep Income Statement and Computing the Gross Profit Percentage [LO 6- 6] [The following information applies to the questions displayed below.] Psymon Company, Incorporated, sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31: Account Titles. Cash Accounts Receivable Inventory Property and Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings, January 1 Sales Revenue Cost of Goods Sold) Salaries and Wages Expense Office Expense Interest Expense Income Tax Expense Totals Debits $ 46,220 19,600 71,000 54,000 Credits $ 22,700 32,800 98,000 12,400 183,800. 107,600 18,600 19,600 2,400 10,680 $ 349,700 $ 349,700 CP6-5 (Algo) Part 1 Required: 1. Prepare a multistep income statement that would be used for external reporting purposes. TIP: Some of the accounts listed will appear on the balance sheet rather than the income statement. Required: 1. Prepare a multistep income statement that would be used for external reporting purposes. TIP: Some of the accounts listed will appear on the balance sheet rather than the income statement. PSYMON COMPANY, INCORPORATED Income Statement