The trial balance of Novak Fashion Center contained the following accounts at November 30, the end of the company's fiscal year NOVAK FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Credit Cash $33780 Accounts Receivable 37420 Inventory 48720 Supplies 9220 Equipment 140440 Accumulated Depreciation-Equipment $26720 Notes Payable 54720 Accounts Payable 52220 Common Stock 93720 Retained Earnings Sales Revenue 11720 766000 Sales Returns and Allowances 4200 Cost of Goods Sold 495400 Salaries and Wages Expenser 138040 Advertising Expense Utilities Expenses Maintenance and Repairs Expense Delivery Expense 27760 15960 12100 16700 Rent Expense 25360 Totals $1005100 $1005100 Adjustment data: 1. Supplies on hand totaled $5220. 2 Depreciation is $17040 on the equipment 3. Integest of $12030 is accrued on notes payable at November 30. Other data: 1. Salaries expense is 70 % selling and 30 % adeministrative. 2. Rent expense and utilities expenses are 80 % selling and 20% administrative 3. $30000 of notes payable are due for payment next year 4. Maintenance and repairs expense is 100% administrative. Prepare a multiple-step income statement for the year. (ignore income taxes) (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses eg. (45)) NOVAK FASHION CENTER Income Statement Selling expenses Administrative expenses