stion 1 Five star enterprises is involved in sales of educational materials. The firm presents the following information for the year ended 2020: AED Salaries 15,000 Sales 150,000 Sales returns 5,000 Rental revenue 20,000 Depreciation of sales van 4,000 Sales commission paid 5,000 Interest expenses 3,000 Income tax 15,000 Cost of goods sold 70,000 Advertising expenses 10,000 Required: Prepare an income statement for the year 2020 using the multiple-step format. Common shares outstanding for 2020 is 40,000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Arial BI V S Paragraph 14px LIX o MacBook Air