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 $ 6,228 768 Depreciation expense-Office copier Sales discounts $ 558 16,500 229,088 1,338 TV advertising expense Sales returns and allowances 4,100 2,888 31,288 Interest revenue 648 10,388 Cost of goods sold 89,800 22,888 Sales commission expense 12,400 FIT-FOR-LIFE FOODS Income Statement For Year Ended December $1 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