7. | | Global uses the perpetual inventory system and the earnings approach. Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) AYAYAI ENTERPRISES Income Statement December 31, 2021For the Year Ended December 31, 2021For the Month Ended December 31, 2021 December 31, 2021For the Month Ended December 31, 2021For the Year Ended December 31, 2021 | Total Sales RevenuesGross Profit / (Loss)Operating ExpensesS. Kim, capital, December 31, 2021Total Operating ExpensesDrawingsOther ExpensesInvestmentProfit from OperationsSales RevenuesNet Profit / (Loss)S. Kim, capital, January 1, 2021 Sales RevenuesTotal Sales RevenuesOperating ExpensesTotal Operating ExpensesNet Profit / (Loss)Gross Profit / (Loss)DrawingsInvestmentS. Kim, capital, January 1, 2021S. Kim, capital, December 31, 2021Profit from OperationsOther Expenses | | | SalesDepreciation ExpenseUtilities ExpenseCost of Goods SoldInsurance ExpenseNet SalesSalaries ExpenseSales DiscountsSales Returns and AllowancesInterest ExpenseSupplies Expense SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | | $ | AddLess AddLess: | | | Supplies ExpenseCost of Goods SoldNet SalesUtilities ExpenseInsurance ExpenseInterest ExpenseSalaries ExpenseSales DiscountsSalesDepreciation ExpenseSales Returns and Allowances SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | $ | | Supplies ExpenseSales Returns and AllowancesSalesInterest ExpenseUtilities ExpenseCost of Goods SoldSales DiscountsNet SalesInsurance ExpenseSalaries ExpenseDepreciation Expense SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | | | | | | Utilities ExpenseSupplies ExpenseSales Returns and AllowancesSalesNet SalesCost of Goods SoldSalaries ExpenseInterest ExpenseInsurance ExpenseDepreciation ExpenseSales Discounts SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | | | Supplies ExpenseInterest ExpenseUtilities ExpenseSalaries ExpenseSales Returns and AllowancesInsurance ExpenseDepreciation ExpenseNet SalesCost of Goods SoldSalesSales Discounts SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | | | Total Operating ExpensesTotal Sales RevenuesS. Kim, capital, December 31, 2021Operating ExpensesGross Profit / (Loss)Other ExpensesInvestmentSales RevenuesDrawingsNet Profit / (Loss)Profit from OperationsS. Kim, capital, January 1, 2021 Sales RevenuesTotal Sales RevenuesOperating ExpensesTotal Operating ExpensesNet Profit / (Loss)Gross Profit / (Loss)DrawingsInvestmentS. Kim, capital, January 1, 2021S. Kim, capital, December 31, 2021Profit from OperationsOther Expenses | | | S. Kim, capital, December 31, 2021Net Profit / (Loss)Total Operating ExpensesDrawingsOther ExpensesOperating ExpensesGross Profit / (Loss)S. Kim, capital, January 1, 2021Sales RevenuesProfit from OperationsTotal Sales RevenuesInvestment Sales RevenuesTotal Sales RevenuesOperating ExpensesTotal Operating ExpensesNet Profit / (Loss)Gross Profit / (Loss)DrawingsInvestmentS. Kim, capital, January 1, 2021S. Kim, capital, December 31, 2021Profit from OperationsOther Expenses | | | Sales Returns and AllowancesDepreciation ExpenseNet SalesSales DiscountsSupplies ExpenseInterest ExpenseInsurance ExpenseSalaries ExpenseSalesUtilities ExpenseCost of Goods Sold SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | | | Depreciation ExpenseSales Returns and AllowancesNet SalesSalesInsurance ExpenseSales DiscountsCost of Goods SoldSupplies ExpenseSalaries ExpenseUtilities ExpenseInterest Expense SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | | | Net SalesSupplies ExpenseSales DiscountsInterest ExpenseSalesCost of Goods SoldSales Returns and AllowancesDepreciation ExpenseUtilities ExpenseSalaries ExpenseInsurance Expense SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | | | Supplies ExpenseUtilities ExpenseSalesCost of Goods SoldInsurance ExpenseSalaries ExpenseInterest ExpenseNet SalesSales DiscountsDepreciation ExpenseSales Returns and Allowances SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | | | Interest ExpenseSupplies ExpenseSales DiscountsSalaries ExpenseDepreciation ExpenseNet SalesSalesSales Returns and AllowancesCost of Goods SoldUtilities ExpenseInsurance Expense SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | | | Net Profit / (Loss)Other ExpensesGross Profit / (Loss)Operating ExpensesTotal Sales RevenuesTotal Operating ExpensesInvestmentProfit from OperationsS. Kim, capital, January 1, 2021S. Kim, capital, December 31, 2021Sales RevenuesDrawings Sales RevenuesTotal Sales RevenuesOperating ExpensesTotal Operating ExpensesNet Profit / (Loss)Gross Profit / (Loss)DrawingsInvestmentS. Kim, capital, January 1, 2021S. Kim, capital, December 31, 2021Profit from OperationsOther Expenses | | | S. Kim, capital, January 1, 2021Total Operating ExpensesOperating ExpensesDrawingsSales RevenuesOther ExpensesNet Profit / (Loss)Profit from OperationsGross Profit / (Loss)S. Kim, capital, December 31, 2021InvestmentTotal Sales Revenues Sales RevenuesTotal Sales RevenuesOperating ExpensesTotal Operating ExpensesNet Profit / (Loss)Gross Profit / (Loss)DrawingsInvestmentS. Kim, capital, January 1, 2021S. Kim, capital, December 31, 2021Profit from OperationsOther Expenses | | | S. Kim, capital, January 1, 2021Profit from OperationsGross Profit / (Loss)Total Operating ExpensesS. Kim, capital, December 31, 2021InvestmentOther ExpensesSales RevenuesTotal Sales RevenuesDrawingsOperating ExpensesNet Profit / (Loss) Sales RevenuesTotal Sales RevenuesOperating ExpensesTotal Operating ExpensesNet Profit / (Loss)Gross Profit / (Loss)DrawingsInvestmentS. Kim, capital, January 1, 2021S. Kim, capital, December 31, 2021Profit from OperationsOther Expenses | | | Sales DiscountsSalesDepreciation ExpenseSales Returns and AllowancesUtilities ExpenseInsurance ExpenseSupplies ExpenseCost of Goods SoldSalaries ExpenseNet SalesInterest Expense SalesSales Returns and AllowancesSales DiscountsCost of Goods SoldNet SalesSalaries ExpenseInterest ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseDepreciation Expense | | | Operating ExpensesOther ExpensesGross Profit / (Loss)Net Profit / (Loss)Sales RevenuesTotal Sales RevenuesDrawingsProfit from OperationsS. Kim, capital, December 31, 2021S. Kim, capital, January 1, 2021InvestmentTotal Operating Expenses Sales RevenuesTotal Sales RevenuesOperating ExpensesTotal Operating ExpensesNet Profit / (Loss)Gross Profit / (Loss)DrawingsInvestmentS. Kim, capital, January 1, 2021S. Kim, capital, December 31, 2021Profit from OperationsOther Expenses | | $ | |