As an experienced, knowledgeable accountant, you review the statement and determine the following facts.

1.		Net sales consist of sales $1,166,080, less freight-out on merchandise sold $42,240, and sales returns and allowances $35,840.
2.		Other revenues consist of sales discounts $23,040 and rent revenue $5,120.
3.		Selling expenses consist of salespersons salaries $102,400; depreciation on equipment $12,800; advertising $16,640; and sales commissions $7,680. The commissions represent commissions paid. At December 31, $3,840 of commissions have been earned by salespersons but have not been paid. All compensation should be recorded as Salaries and Wages Expense.
4.		Administrative expenses consist of office salaries $60,160; dividends $23,040; utilities $15,360; interest expense $2,560; and rent expense $30,720, which includes prepayments totaling $7,680 for the first quarter of 2018.

Prepare a correct detailed multiple-step income statement. Assume a 25% tax rate. (List other revenues before other expenses. Round answers to 0 decimal places, e.g. 5,125.)

An inexperienced accountant prepared this condensed income statement for Cullumber Company, a retail firm that has been in business for a number of years CULLUMBER COMPANY Income Statement For the Year Ended December 31, 2017 Revenues $1,088,000 28,160 1,116,160 710,400 405,760 Net sales Other revenues Cost of goods sold Gross profit Operating expenses 139,520 131,840 271,360 $134,400 Selling expenses Administrative expenses Net earnings