Exercise 4-15 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 Depreciation expense-office copier Sales discounts 6,250 420 15,200 3,900 790 Insurance expense Sales returns and allowances 1,240 225,000 32,100 10,500 TV advertising expense Sales 3,000 Office salaries expense Interest revenue 660 Rent expense-Selling space Sales staff wages Cost of goods sold Sales commission expense 88,800 13,600 22,400 Prepare a multiple-step income statement. FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 0 0 C Expenses Selling expenses 0 Expenses Selling expenses Total selling expenses 0 General and administrative expenses Total general and administrative expenses 0 Total expenses 0 0 Other revenues, gains, expenses & losses Total other revenues, gains,, expenses & losses C