The work sheet for Global Filter Corp. is shown below. Complete the classified multi-step income statement on the right. Accumulated Depreciation, Store Fixtures Income Statement Balance Sheet and Statement of Changes in Equity Debit Credit Debit Credit 7,500 35,500 XX Global Filter Corp. Income Statement For the year ended December 31, 2014 Accumulated Depreciation, Store Furniture Cost Of Goods Sold 69,000 X Depreciation Expense, Store Fixtures 7,000 Depreciation Expense, Store Furniture 8,500 Dividends 34,000 Interest Expense 18,000 Liabilities 257,000 Merchandise Inventory 199,000 Office Supplies Expense 27,500 X X Rent expense, office space 65,000 Rent expense, selling space 81,500 + Net sales Gross profit from sales Operating expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Rent revenue 48,000 Retained Earnings 179,000 Other revenues and expenses Sales 132,500 Sales Discounts 26,000 Sales Returns and Allowances 22,000 Share Capital Store Fixtures Store Furniture 85,000 68,500 72,500 Store Supplies Expense 46,000 Totals Net Loss Totals 370,500 180,500 374,000 564,000 190,000 190,000 370,500 370,500 564,000 564,000