The following is a partial list of account balances for the Supply Company at December 31, 2010:

Cash80,850

Accounts receivable 23,800

inventory 190,950

supplies 3,800

land 134,300

accounts payable42,300

common stock32,150

Retained earnings, beginning70,250

Sales 456,150

cost of goods sold380,250

salaries expense32,280

Utilities expense9,200

Other operating expense20,000

Gain on sale of land6,000

Required:

From the above information, prepare the properly formatted multistep income statement.