The following information was taken from the adjusted trial balance of Nelson Inc. at June 30, 2020. Accounts payable $52,000 Accounts receivable 18,700 Accumulated depreciationBuilding 44,900 Advertising expense 38,500 Building 600,000 Cash 85,000 Common shares 417,500 Cost of goods sold 410,500 Depreciation expense 12,000 Freight out 22,000 Gain on disposal 3,000 Income Tax 15% Interest expense 3,700 Interest revenue 2,000 Loss on disposal Rental revenue 3,000 Retained earnings, July 1, 2019 154,800 Salaries expense 279,500 Salaries payable 5,200 Sales 798,500 Sales discounts 8,200 Sales returns and allowances 29,000 Utilities expense 9,200 2,000 Instructions Use the above information to prepare a multiple-step income statement for the year ended June 30, 2020