Selected transactions of G$.$ Calma Trading during the first $15$ days of January $2011$ were as follows:

$\backslash$table$[[\backslash$table$[[$Cash sales of merchandise$],[$Sales of merchandimn$]],$P $50,000],[\backslash$table$[[$Sales of merchandise on account$]],15,000],[$Store supplies purchased on account,$2,500],[$Purchase of merchandise for cash,$40,000],[$Purchase of merchandise on account,$20,000],[$Freight paid on merchandise purchased,$],[$Purchase discounts enjoyed,$],[$Wages paid for the period,$10,000],[$Defective merchandise returned by customer, sold on account,$1,300],[$Retumed defective merchandise purchased for cash,$1,000]]$

Transactions during the second half of the month:

$\backslash$table$[[$Cash sales,$105,000],[$Sales on account,$27,000],[$Freight paid on cash sales,$1,400]]$

Purchases:

P $35,000,$ terms $\frac{2}{10},\frac{n}{30}($paid within discount period$)$

$P8,000,$ terms $10-10\%,\frac{5}{5},\frac{n}{30}($paid within discount period$)$

$P9,000,$ terms $\frac{1}{10},\frac{n}{30}($paid beyond discount period$)$

P $12,000$ cash purchases, FOB destination $($freight$,$ P $1,200)$

$\backslash$table$[[$Wages paid for the second half of the month,$10,000],[$Unpaid wages at the end of month,$1,800],[$Utilities expense for the month $($unpaid$),1,800],[$Interest earned on deposits,$1,200],[$Additional information:,$],[$Merchandise inventory at the beginning of the month,$8,000],[$Merchandise inventory at the end of the month,$92,000],[$Store supplies on hand at the end of the month,$900]]$

REQUIRED:

Prepare a multi$-$step income statement for the period ended January $31,2011.$