These items were taken from the financial records of Brown's Used Cars: Utilities expense ............$ 17,650 Interest

Question:

These items were taken from the financial records of Brown's Used Cars:
Utilities expense ............$ 17,650
Interest expense............. 50
Selling expense .............. 14,600
Administrative expense .......... 15,230
Interest revenue .............. 500
Cost of sales ............... 75,620
Net sales ................ 154,900
Required
Prepare a multi-step income statement assuming Brown's falls into the 30% tax bracket and has a December 31 year end.