The following selected information is available for Live Company at December 31, 2020: Debit Credit $ 50,000 $ 35,000 390,000 20,000 10,000 260,000 Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Freight-Out Advertising Expense Interest Expense Salaries and Wages Expense Utilities Expense Depreciation Expense Interest Revenue 2,000 15,000 15,000 45,000 18,000 7,000 5,000 Cash 20,000 Accounts Receivable 30,000 Required: Prepare a multiple step income statement for Ling Company for the year ended December 31, 2020. Note: 1) Not all the accounts provided will be used in the income statement preparation. 2) The template provided MUST be entirely completed