Required information [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 Debits $ 44,060 Credits Accounts Receivable Inventory Property and Equipment 18,800 68,000 52,000 Accumulated Depreciation $ 21,800 Accounts Payable 31,400 Common Stock 94,000 Retained Earnings, January 1 12,000 Sales Revenue 175,400 Cost of Goods Sold 102,800 Salaries and Wages Expense 17,800 Office Expense 18,800 Interest Expense 2,200 Income Tax Expense Totals 10,140 $334,600 $334,600 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.