The following selected information is for Pharoah Company for the year ended January 31, 2021: Freight in $6,500 Purchase discounts $12,000 Freight out 7,000 16,400 Insurance expense 12,000 20,400 Interest expense 6,000 60.900 61,500 2,500 Purchase returns and allowances Rent expense Salaries expense Salaries payable Sales Sales discounts Sales returns and allowances Unearned sales revenue Merchandise inventory, beginning Merchandise inventory, ending O.G. Pogo, capital O.G. Pogo, drawings 42,000 323,000 105,000 14.000 42,000 20,400 Purchases 211,000 4.500 Prepare a multiple-step income statement (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.. (45)) PHAROAH COMPANY Income Statement Year Ended January 31, 2021 Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45).) PHAROAH COMPANY Income Statement Year Ended January 31, 2021 Sales Revenues Sales Less Sales Returns and Allowances Sales Discounts Net Sales Cost of Goods Sold Merchandiserventory being Question 4 of 20 -/30 Purchases Less Purchase Discounts v Purchase Returns and Allowances Merchandise Inventory. Beginning Add: Purchases Purchase Discounts Purchase Returns and Allowances Merchandise Inventory Ending Cost of Goods Sold Gross Prot/tas Cost of Goods Sold Gross Profit/(Loss) Insurance Expense Rent Expense Salary Expense Protrom. Operations Los from Operations Totseatinc pens Een