The following account balances are taken from Sherwood Ltd's adjusted trial balance at June 30, 2020: Debit Credit $1,255,000 Sales revenue Advertising expense Cost of goods sold General and administrative expenses Selling expenses Depreciation expense Interest expense Interest revenue Income tax expense Wages expense Utilities expense $122,000 591,000 38.000 77,000 70.000 36,000 42,000 12,000 165,000 106,000 Prepare a single-step statement of income for the year ended June 30, 2020 Sherwood Ltd. Statement of Income Prepare a multi-step statement of income for the year ended June 30, 2020. Sherwood Ltd. Statement of Income