Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $3,000; Cost of Goods Sold, $25,920; Income Tax Expense, $3,370; Interest Expense, $1,700; Interest Revenue, $220; General Expenses, $3,200; Sales Revenue, $48,000; Sales Discounts, $2,400; Sales Returns and Allowances, $2,160; and Delivery (freight- out) Expense, $360. Prepare a multistep income statement for distribution to external financial statement users. SELLALL DEPARTMENT STORES Income Statement For the Year Ended December 31 Net Sales Cost of Goods Sold Gross Profit 25,920 6,560 ncome from Operations nterest Expense Interest Revenue Income before Income Tax Expense ncome Tax Expense 1,700 220 Net Income