The following income statement contains errors.

Curbstone Company

Income Statement

For the Year Ended August 31, 2019

1	Sales		$8,595,000.00
2	Cost of merchandise sold		6,110,000.00
3	Income from operations		$2,485,000.00
4	Expenses:
5	Selling expenses	$800,000.00
6	Administrative expenses	575,000.00
7	Delivery expense	425,000.00
8	Total Expenses		1,800,000.00
9			$685,000.00
10	Other expense:
11	Interest revenue		45,000.00
12	Gross profit		$640,000.00

Identify the errors by preparing a corrected multiple-step income statement. Be sure to complete the heading of the statement. Refer to the information given in the exercise and to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon (:) will automatically appear if it is required. In the Other expenses section only, enter amounts that represent other expenses as negative numbers using a minus sign.