The following income statement was prepared by an office clerk hired for July. As the accounting supervisor, you recognize that it is incorrect and prepare a corrected multi-step income statement: $562.540 37,200 18,080 $617,820 Income State For Month Ended July 11, 2020 Sales Accounts receivable Unearned sales Net sales Operating expenses: Accumulated depreciation, equipment Advertising expense Cost of goods sold Depreciation expense, equipment Insurance expense Interest expense Interest payable Jen Conway, withdrawals office supplies Prepaid insurance Prepaid rent Rent expense Salaries payable Sales discounts Loss $ 39,200 14,000 394,500 3,080 2,540 1,780 270 14,040 9,400 14,800 25,200 5,240 175,200 2,880 693,510 $ 75,690 eest