Exercise 254 (Part Level Submission) Presented below is information for Zhan Company for the month of January 2017 Cost of goods sold Freight-out Insurance expense Salaries and wages expense 42,000 Sales revenue $35,000 8,000 Sales returns and allowances 13,000 421,000 $280,000 Rent expense 7,000 Sales discounts 12,000 Your answer is partially correct. Try again. Prepare a multiple-step income statement. ZHAN COMPANY Income Statement For the Month Ended January 31, 2017 Sales Sales Revenue 421,000 Less ? Sales Returns and Allowances 13,000 Sales Discounts 8000