The adjusted trial balance of Molly Distributors on December $31$ is shown below. MOLLY DISTRIBUTORS Adjusted Trial Balance December $31$ Debit Credit Cash $$30,200$ Accounts Receivable $110,200$ Inventory $94,000$ Prepaid Insurance $2,400$ Supplies $6,400$ Delivery Equipment $85,000$ Accumulated Depreciation $$35,000$ Accounts Payable $100,000$ Common Stock $105,000$ Retained Earnings $22,800$ Sales Revenue $791,000$ Cost of Goods Sold $513,400$ Salaries Expense $123,000$ Rent Expense $40,000$ Supplies Expense $6,400$ Utilities Expense $4,000$ Depreciation Expense $16,000$ Insurance Expense $6,800$ Income Tax Expense $16,000$ Totals $$1,053,800$ $$1,053,800$ Prepare a multi$-$step income statement for the year ended December $31.$ Combine all the operating expenses into one line on the income statement for selling, general and administrative expenses. Note: Do not use negative signs with your answers.Note: Do not use negative signs with your answers.