nstructions: Please prepare a Multi-Step Income Statement on your scratch paper based on the following Partial Adjusted Trial Balance. Use this multi-step income statement to answer this question and the next three (3) questions.

You will need to know the amounts for net sales, gross profit, operating income, and net income after taxes.

Adjusted Trial Balance

As of 12/31/20xx

Accounts	Normal Account Balance
Cash	$25,291
Accounts Receivable	24,500
Allowance for Uncollectible Accounts	3,000
Inventory	35,000
Deferred Revenue	10,000
Common Stock	50,000
Retained Earnings	10,000
Revenue (Sales)	100,000
Sales Discounts	1,148
Cost of Goods Sold	50,183
Rent Expense	5,171
Interest Expense	4,000
Income Tax Expense	3,000

Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of Net Sales on the Multi-step Income Statement for the period ending 12/31/xx?

Multi-Step Income Statement Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Gross Profit" on the Multi-step Income Statement for the period ending 12/31/xx?

Multi-Step Income Statement Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Operating Income" on the Multi-step Income Statement for the period ending 12/31/xx?

Multi-Step Income Statement Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Net Income After-Taxes" on the Multi-step Income Statement for the period ending 12/31/xx?