The selected accounts from the Sheffield Corp.'s accounting records are presented below for the year ended December 31, 2022: Advertising expense $ 60,500 Interest revenue $ 33,000 Common stock 275,000 Inventory 73,700 Cost of goods sold 1,193,500 Rent revenue 26,400 Depreciation expense 137,500 Retained earnings 588,500 Dividends 165,000 Salaries and wages expense 742,500 Freight-out 27,500 Sales discounts 9,350 77,000 Sales returns and allowances 45,100 Income tax expense Insurance expense 16,500 Sales revenue 2,640,000 Interest expense 77,000 Prepare a multiple-step income statement