The following account balances are taken from Sherwood Ltd.'s adjusted trial balance at June 30, 2020: Debit Credit Sales revenue $1,254,000 Advertising expense $125,000 Cost of goods sold 594,000 General and administrative expenses 39,000 Selling expenses 75,000 Depreciation expense 70,000 Interest expense 39,000 Interest revenue 43,000 Income tax expense 12,000 Wages expense 168,000 Utilities expense 109,000 Prepare a single-step statement of income for the year ended June 30, 2020. Sherwood Ltd. Statement of Income TE FI ES List of Accounts Prepare a multi-step statement of income for the year ended June 30, 2020, Sherwood Ltd. Statement of Income