The worksheet of Lantz's Office Supplies contains the following revenue, cost, and expense accounts. Prepare a classified income statement for this firm for the year ended December 31, 20X1. The merchandise inventory amounted to $59,775 on January 1, 20X1, and $52,725 on December 31, 20X1. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases 502 Freight In 503 Purchases Returns and Allowances 504 Purchases Discounts 611 Salaries Expense-Sales 614 Store Supplies Expense 617 Depreciation Expense-Store Equipment 631 Rent Expense 634 Utilities Expense 637 Salaries Expense-Office 640 Payroll Taxes Expense 643 Depreciation Expense-Office Equipment 646 Uncollectible Accounts Expense 691 Interest Expense $265,950 Cr. 4,350 Dr. 400 Cr. 108,600 Dr. 1,975 Dr. 3,600 Cr. 1,800 Cr. 45,300 Dr. 2,310 Dr. 1,510 Dr. 13,500 Dr. 6,200 Dr. 21,100 Dr. 5,800 Dr. 570 Dr. 720 Dr. 740 Dr. LANTZ'S OFFICE SUPPLIES Income Statement Operating revenue Sales Less: Sales returns and allowance 0 Net sales Cost of goods sold Cost of goods sold 0 LANTZ'S OFFICE SUPPLIES Income Statement Operating revenue Sales Less: Sales returns and allowance 0 Net sales Cost of goods sold Cost of goods sold 0 0 0 Total merchandise available for sale $ 0 0 $ 0 Operating expenses Selling expenses Depreciation expense-Store Equip. $ 0 Store supplies expense Total Selling Expense General and Administrative Expenses Depreciation expense-Office Equip. Rent expense Utilities expense Salaries expense-Office Payroll taxes expense Uncollectible accounts expense Interest expense Total general and admin. expenses Total operating expenses $ 0 0 $ 0 Other income Other expense $ 0 Net income for year $ 0