ces Exercise 5-15 Preparing a multi-step income statement LO P4 Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment Office supplies expense Insurance expense Sales Office salaries expense Rent expense-Selling space Sales staff wages Prepare a multiple-step income statement. Expenses Selling expenses $ 6,290 660 Depreciation expense-Office copier Sales discounts $ 400 16,200 1,390 212,000 Sales returns and allowances 3,900 TV advertising expense 2,100 31,500 Interest revenue 600 10,500 Cost of goods sold 88,500 23,200 Sales commission expense 13,700 FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 Total selling expenses General and administrative expenses Expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total expenses Other revenues, gains, expenses & losses Total other revenues, gains, expenses & losses