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 Total general and administrative expenses Total expenses Other revenues, gains, expenses & losses Total other revenues, gains, expenses & losses