vith hints MULTI STEP INC STMT 6 ved Required information CP6-5 Preparing a Multistep Income Statement and Computing the Gross Profit Percentage [LO 6-6] (The following information applies to the questions displayed below) Psymon Company, Inc., sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31: Credits Debits $ 58,700 24,400 89,000 60,000 Account Titles Cash Accounts Receivable Inventory Property and Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings, January 1 Sales Revenue Cost of Goods Sold Salaries and Wages Expense Office Expenses Interest Expense Inco Tax Expense Totals $ 27,700 41,200 122,900 14,800 234,200 130,400 23,450 24,400 3,000 13, 920 $439, 900 3439,000 CP6.5 Part 1 Required: 1. Prepare a multistep income statement that would be used for external reporting purposes. TIP: Some of the accounts listed will appear on the balance sheet rather than the income statement. PSYMON COMPANY, INC Income Statement with hints MULTI STEP INC STMT 6 Seved 234,200 Sales Revenue Cost of Goods Sold Salaries and Wages Expense Office Expenses Interest Expense Income Tax Expense Totals 136,400 23,400 24,400 3,600 13, 920 $439,900 $439,900 CP6-5 Part 1 Required: 1. Prepare a multiste income statement that would be used for external reporting purposes. TIP: Some of the accounts listed will appear on the balance sheet rather than the income statement nat onces PSYMON COMPANY, INC Income Statement