Requirement 2. Prepare a multi-step income statement Begin by completing the statement through the gross profit, then calculate operating income in the second step and net income in the final step- Farm Quality Steak Company Income Statement Quarter Ended April 30, 2018 Net Sales Revenue $ 298,000 Cost of Goods Sold 154,960 Gross Profit 143,040 Operating Expenses: Selling Expenses: Rent Expense-Selling $ 15,100 Delivery Expense-Selling 3,800 Salaries Expense-Selling 6,000 Utilities Expense--Selling 10,000 Total Selling Expenses 34,900 Administrative Expenses: Salaries Expense-Administrative 2,000 Depreciation Expense Equipment-Administrative 1,320 Utilities Expense-Administrative 4,600 Rent Expense-Administrative 7.100 Total Administrative Expenses 15,020