Prepare multi-step income statement when company uses periodic inventory system
Sales $433,912
Sales Returns and Allowances $11,250
Purchases 221,185
Purchases Returns and Allowances 30,238
Freight-In 10,078
Store Salaries Expense 107,550
Office Salaries Expense 26,500
Advertising Expense 18,200
Rent Expense 14,400
Insurance Expense 2,800
Utilities Expense 18,760
Store Supplies Expense 464
Office Supplies Expense 814
Depreciation Expense-Store Equipment 1,800
Depreciation Expense-Office Equipment 1,850
Income Taxes
