The following selected accounts from the Metlock, Inc's general ledger are presented below for the year ended December 31, 2022. Advertising expense $ 50,000 $ 28,000 245,000 62,000 Common stock Cost of goods sold 24,000 1,080,000 120,000 Interest revenue Inventory Rent revenue Retained earnings Salaries and wages expense Sales discounts 530,000 Depreciation expense Dividends 145,000 670,000 Freight-out 20,000 8,500 Income tax expense 65,000 Sales returns and allowances 39,000 Insurance expense 15,000 Sales revenue 2,395,000 Interest expense 65,000 Prepare a multiple-step income statement. Metlock, Inc. Income Statement For the Year Ended December 31, 2022 $ 2.395,000 Sales Returns and Allowances Less Sales Returns and Allowances $ 39.000 Sales Discounts 8.500 47.500 2.347.500 Net Sales 20.000 Freight-Out 2327500 Sales Operating Expenses Advertising Expense 50.000 Depreciation Expense 120,000 Insurance Expense 15,000 Salarles and Wages Expense 670,000 Interest Expense 65,000 Total Operating Expenses 920,000 Income From Operations 1.407,500 Other Revenues and Gains Interest Revenue 28,000 Rent Revenue 24,000 52,000