The following data were provided by Mystery Incorporated for the year ended December 31:

Cost of Goods Sold	$ 160,000
Income Tax Expense	16,290
Merchandise Sales (gross revenue) for Cash	230,000
Merchandise Sales (gross revenue) on Credit	40,000
Office Expense	18,500
Sales Returns and Allowances	6,750
Salaries and Wages Expense	38,200

Required:

1. Prepare a multistep income statement for external reporting purposes.