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Sellall Department Stores reported the following amounts as of its December 31 year-end: Administrative Expenses, $2,200; Cost of Goods Sold, $21,600; Income Tax Expense,
Sellall Department Stores reported the following amounts as of its December 31 year-end: Administrative Expenses, $2,200; Cost of Goods Sold, $21,600; Income Tax Expense, $2.980; Interest Expense, $1,500; Interest Revenue, $180; General Expenses, $2,400; Net Sales, $36,200; and Delivery (freight-out) Expense, $280. Prepare a multistep income statement for distribution to external financial statement users. SELLALL DEPARTMENT STORES Income Statement
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