from the bottom up

Presented below is information for Ivanhoe Co. for the month of January 2022. Cost of goods sold $210,700 Rent expense $83,500 Freig htout 9,200 Sales discounts 3,000 Insurance expense 14,700 Sales returns and allowances 13,400 Salaries and wages expense 63,000 Sales revenue 393,000 Income tax expense 5,400 Other comprehensive income {net of $400 tax) 2,000 3 Your answer is partially correct Prepare an income statement using the multiple-step format. IVANHOE (:0. Income Statement For the Month Ended January 31, 2022 i [ Sales :] ' Sales Discounts | $ 393,000 Less 3 : ' Sales Returns and Allowances | $ :| For the Month Ended January 31, 2022 Sales Sales Discounts 398,000 Sales Returns and Allowances Sales Returns and Allowances 8,000 18,400 Net Sales 371,600 210,700 Gross Profit 160,900 Operating Expenses Freight-Out 9,200 Insurance Expense 14,700 Salaries and Wages Expense 63,000 Rent Expense 33,500 Operating Expenses 120,400