The adjusted trial balance for Tony Company is shown below. Tony uses the PERPETUAL inventory system. INSTRUCTIONS: PREPARE A MULTI STEP INCOME STATEMENT IN GOOD FORM. USE NEXT PAGE Tony Company Trial Balance December 31, 2021 Debit Credit Cash $67,400 36,300 118,000 6,050 8,350 52,500 $18,000 Accounts receivable Inventory Office supplies Prepaid rent Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Sales Sales returns and allowances Gain from sale of Equipment Cost of Goods Sold 38,100 42,400 182,150 427,200 8,544 1,756 264,864 Interest Expense 750 Freight out expense 17,088 Sunnies expense 1600 Tony Company Trial Balance December 31, 2021 Debit Credit $67,400 36,300 118,000 6,050 8,350 52,500 $18,000 38,100 Cash Accounts receivable Inventory Office supplies Prepaid rent Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Sales Sales returns and allowances Gain from sale of Equipment Cost of Goods Sold Interest Expense Freight out expense Supplies expense 42,400 182,150 427,200 8,544 1.756 264,864 750 17,088 1,600 Rent expense 42.720 Salaries expense 85,440 $709,606 $709,606 NOTE: Assume an Income Tax Rate of 27%