Required Information (The following information applies to the questions displayed below.) Emily's Greenhouse Corporation is a local greenhouse organized 10 years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format): EMILY'S GREENHOUSE CORPORATION Profit and Loss December 31 Debit Net Sales $578,888 Cost of Goods sold $341,820 Salaries and Wages Expense 81, eee Office Expenses 20,5ee Travel Expenses 5,5ee Income Tax Expense 39, eee Net Profit 91, Totals $578,000 $578, eee Credit Required: 1. Prepare a properly formatted multistep Income statement that would be used for external reporting purposes. EMILY'S GREENHOUSE CORPORATION Income Statement 341,000 Net Sales Cost of Goods Sold Gross Profit Expenses Office Expenses Travel Expense Salaries and Wages Expense 20.500 5.500 81,000 39,000 Income Tax Expense Net Income