Required: Prepare a multi-step income statement, from the following data for Kooper Co., taken from the ledger after adjustment on December 31, 2017 the end of the fiscal year.

Accounts Payable $ 97,200

Accounts Receivable 64,300

Accumulated Depreciation - Office Equipment 72,750

Accumulated Depreciation - Store Equipment 162,100

Administrative Expenses 56,500

Capital Stock 70,000

Retained Earnings 1/1/17 11,750

Cash 53,000

Cost of Merchandise Sold 121,700

Dividends 52,000

Interest Expense 12,000

Merchandise Inventory 93,250

Note Payable, Due 2010 154,000

Office Equipment 149,750

Prepaid Insurance 6,500

Rent Revenue 17,500

Salaries Payable 28,700

Sales (net) 365,500

Selling Expenses 41,500

Store Equipment 325,000

Supplies 4,000