required: prepare a 2020 multiple-step income statement for the Dory company.

Instructions The following accounts are taken from the accounting records of Dory Company at December 31, 2020 after adjustments: Sales revenue $249.000 Sales salaries expense 14,000 Administrative salaries expense 15,000 Depreciation expense. equipment 8.000 Purchases 160 000 Purchases returns 2,000 Freight-in 10 000 Inventory, 1/1/20 80.000 Retained earnings 1/1/20 60 000 In addition, the following information is available: The inventory on December 31, 2020, was $75,000. Ten thousand shares of common stock outstanding during the entire year Dory paid dividends of $1.00 per share. At the end of October Dory sold its unprofitable restaurant component! From January through October, the component had incurred an operating loss (pretax) of $14 000. The sale was made at a loss (pretax) of $8.000 The applicable tax rate is 30%