The following data for the current year ended June $30$ are from the accounting records of Zanadu Co$.$:

Administrative expenses $$28,750$

Cost of goods sold $181,440$

Interest expense $3,600$

Rent revenue $1,500$

Sales $534,440$

Selling expenses $65,000$

Required:

Prepare a multiple$-$step income statement for the year ended June $30.$ Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. Negative amounts should be entered with a minus sign. Be sure to complete the statement heading. You will not need to enter colons $($:$)$ on the income statement.