The information below relates to the operations of Pharoah Corporation, a private company following ASPE, for the year ended December 31, 2020: Cost of goods sold Interest expense Sales returns and allowances Accounts payable Sales discounts Depreciation expense Sales revenue Salaries and wages expense Prepaid expenses Rent expense Loss from fire Rental revenue $350,000 2,090 9,090 120,278 3,932 284,660 982,516 163,392 3,250 35,500 8,238 24,106 Additional information: Additional information: The effective tax rate is 40%. Depreciation expense: 70% administrative expense and 30% selling expense Salaries and wages expense: 45% administration expense and 55% selling expense Rent expense: 70% administration expense and 30% selling expense Prepare a multiple-step income statement in good form by function. (Enter selling expenses before administrative expenses. Round answers to 0 decimal places, e.g. 5,275.) Pharoah Corporation Income Statement $ S S S . $ V