The following amounts appeared on Davison Company's adjusted trial balance as of October 31, 2020, the Merchandise inventory Other assets Debit $ 16,700 Credit 263,800 Liabilities Brenda Davison, capital Interest income Sales $ 79,100 210,560 Brenda Davison, withdrawals 65,700 1,190 431,000 Sales discounts 7,200 Sales returns and allowances 28,700 Cost of goods sold 170,000 Sales salaries expense 52,700 Rent expense, selling space 19,700 Store supplies expense 5,700 Advertising expense 30,100 Office salaries expense 53,700 Rent expense, office space 5,900 Office supplies expense 1,950 Totals $721,850 $721,850 Required: 1. Prepare a classified multiple-step income statement for internal use. Operating expenses: Selling expenses: DAVISON COMPANY Income Statement For Year Ended October 31, 2020 0