The accounts in April Showers Company's adjusted trial balance as of December 31, 2019 are shown below, with accounts in alphabetical order. All accounts have a normal balance. If a normal balance cannot be determined, the balance is indicated. Use the information provided below to prepare a multiple-step income statement for the year ended December 31, 2019. Enter your answer in the space below on Connect. You may omit the 3-line heading at the top. Accounts payable $75,000 Accounts receivable 165,000 Allowance for doubtful accounts Cash 175,000 Common stock (75,000 shares, $1 par) 75,000 Cost of goods sold 460,000 Dividend revenue 8,000 Fair value adjustment-stock 10,000 Debit Income tax expense 45,000 Interest expense 18,721 32,000 Interest revenue 100,000 General and administrative expenses 109,879 Land 21,000 Loss on sale of land 200,000 Merchandise inventory 55,000 Note payable, due 2025 290,000 Paid in capital in excess of par, common stock 150,000 Retained earnings 750,000 Sales 30,000 Sales discounts 75,000 Selling expenses 25,400 Unrealized loss - AFS - debt 10,000 Unrealized loss-Income