The results of operations of Columbia Co for the year ended December 31 2017 follow 

Account Balance 

Advertising Expense 16000 

Beginning Retained Earnings 55000 

Commissions on Sales 22500 

Cost of Goods Sold 270000 

Depreciation Expense 12000 

Dividends Declared 25000 

Ending Retained Earnings Insurance Expense 8000 

Interest Expense 10000 

Repairs and Maintenance 15000 

Sales 450000 Sales 

Persons Salaries 26500 

Income tax rate 3500 

Required 

Prepare a multiple-step income statement.