Requlred 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 $31$:

Required:

Prepare a multistep income statement that would be used for extemal reporting purposes. TIP: Some of the accounts listed will appear on the balance sheet rather than the income statement.