Question 3 [50 points] The work sheet for Velor Inc. is shown below. Complete the classified multi-step income statement on the right. Balance Sheet and Statement of Income Statement Changes in Equity Debit Credit Debit Credit 52,000 56,500 Accumulated Depreciation, Office Equipment XSale XXX XCos Gro Ope F F F X X Accumulated Depreciation, Store Fixtures Cost Of Goods Sold 125,000 Depreciation Expense, Office Equipment 18,000 Depreciation Expense, Store Fixtures 13,500 Dividends 35,000 Income Taxes Expense, 16,800 Income Taxes Payable 16,800 Interest Expense 18,500 Liabilities 602,000 Merchandise Inventory. 72,000 Office Equipment 447,500 Office Salaries Expense 54,000 Rent expense, office space 80,500 Rent expense, selling space, 122,000 271,000 Rent revenue 55,500 Retained Earnings 378,000 Sales Sales Discounts 15,500 Sales Returns and Allowances 13,000 Sales Salaries Expense 105,000 Share Capital Store Fixtures Totals Net Income Totals 196,000 491,500 581,800 649,000 1,046,000 978,800 67,200 67,200 649,000 649,000 1,046,000 1,046,000 Oth Inc