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Required information

$[$The following information applies to the questions displayed below.$]$

Vitamix reports the following information for its year ended December $31$:

Cash sales

Sales on credit

General and administrative expenses

Sales returns

Cost of goods sold

Sales discounts

Selling expenses

$$66,000$

$96,000$

$20,000$

$11,600$

$81,500$

$2,600$

$30,000$

Use the above information to prepare the gross profit section of a multiple$-$step income statement.

$\backslash$table$[[$VITAMIX$,,],[$Income Statement,,$],[,,],[,$For Year Ended December $31,],[,,],[,,],[,,],[,,],[,,]]$