Following are accounts taken from the adjusted trial balance of the Morlan Bathroom Supply Company, December 31, 20X5. The company uses the periodic inventory system. All amounts are in thousands.

Prepare a detailed multiple-step income statement for 20X5.

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$160 Freight in 串55 13 1,066 8 15 300 46 50 4 50 6 29 Sales salaries and commissions Inventory, December 31, 20X4 Allowance for bad debts Rent expense, office space Gross purchases Depreciation expense, office 200 Miscellaneous expenses 14 Sales 10 700 3 equipment Cash discounts on sales Advertising expense Purchase returns and allowances Delivery expense Bad debt expense Cash discounts on purchases Inventory, December 31, 20X5 Office salaries Rent expense, selling space Income tax expense Sales returns and allowances Office supplies used Depreciation expenses, trucks 16 45 40 20 and store fixtures