CAN YOU EXPLAIN THE FORMULAS USED IN THE GRAPHS. LIKE HOW YOU DETERMINE THE NAMES.

Presented below is information for Skysong, Inc. for the month of January 2022. Cost of goods sold Freight-out Insurance expense Salaries and wages expense $225,144 7,000 12,000 59,000 Rent expense Sales discounts Sales returns and allowances Sales revenue $32,000 8,000 19,000 381,000 (a) Prepare a multiple-step income statement. (If there is a net loss then enter the amount using either a negative sign preceding the number es-45 or parentheses eg (451) Skysong, Inc. Income Statement For the Month Ended January 31, 2022 $