The information below relates to the operations of Sandhill Corporation, a private company following ASPE, for the year ended December 31, 2020:

Cost of goods sold		$ 329,000
Interest expense		2,170
Sales returns and allowances		8,950
Accounts payable		119,918
Sales discounts		3,792
Depreciation expense		284,500
Sales revenue		982,516
Salaries and wages expense		163,672
Prepaid expenses		3,630
Rent expense		39,900
Loss from fire		8,238
Rental revenue		25,106

Additional information:

		The effective tax rate is 40%.
		Depreciation expense: 70% administrative expense and 30% selling expense
		Salaries and wages expense: 40% administration expense and 60% selling expense
		Rent expense: 85% administration expense and 15% 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.)

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