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Sellall Department Stores reported the following amounts In Its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $2,000: Cost of Goods

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Sellall Department Stores reported the following amounts In Its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $2,000: Cost of Goods Sold, $20,520; Income Tax Expense, $2,870: Interest Expense, $1,500: Interest Revenue, $180; General Expenses, $2,200; Net Sales Revenue, $34,390; and Delivery (freight-out) Expense, $260. Prepare a mulustep income statement for distribution to external financial statement users. 50 SELLALL DEPARTMENT STORES Income Statement

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