The following is taken from the accounting records of the Makeup Hut for the month of April. Use this information to prepare a multiple step income statement for April in the space provided on the next page. Be sure to include only those items that belong on an income statement.

Accounts Payable $ 21,000

Accounts Receivable 40,000

Advertising Expense 12,000

Capital Stock 90,000

Cash 10,000

Cost of Goods Sold 300,000

Interest Expense 1,000

Merchandise Inventory 80,000

Retained Earnings, 4/30/20-- 20,000

Sales (net of discounts and returns) 620,000

Salaries Expense 150,000 Makeup Hut

Income Statement For the month ended April 30, 20--