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The following is a partial Adjusted Trial Balance for Alpha Company for the month: Alpha Company Adjusted Trial Balance (partial) January 31, 2016 Accounts Debit

The following is a partial Adjusted Trial Balance for Alpha Company for the month:

Alpha Company

Adjusted Trial Balance (partial)

January 31, 2016

Accounts

Debit

Credit

Inventory

$2,750

Sales

$10,000

Sales Discounts

200

Sales Returns & Allowances

1,200

Purchases

4,000

Purchases Discounts

150

Purchase Returns & Allowances

450

Freight In

50

Advertising Expense

150

Depreciation Expense (100% Admin & General)

130

Freight Out

70

Income Tax Expense

500

Salaries Expense

500

Utilities Expense

100

Additionally, Inventory for December 31, 2015 was $2,500. Prepare a multiple-step income statement.

What amount should Alpha Company report on a Multi-Step Income Statement for the following items:

1. Net Sales

2. Cost of Goods Available for Sales

3. Gross Profit

4. General & Administrative Expenses

5. Income before Taxes

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