The work sheet for Callaho Inc. is shown below. Complete the classified multi-step income statement on the right.

Callaho Inc. Income Statement For the year ended December 31, 2014 Net sales Gross profit from sales Operating expenses Selling expenses Total selling expenses. General and administrative expenses Balance Sheet and Income Statement of Statement Changes in Equity Debit Credit Debit Credit Accumulated Depreciation, Office Equipment 41,000 Accumulated Depreciation, Store Fixtures 73,000 Cost Of Goods Sold 40,500 Depreciation Expense, Office Equipment 11,500 Depreciation Expense, Store Fixtures 16,500 Dividends 16,500 Insurance Expense 19,000 Liabilities 506,500 Merchandise Inventory 72,000 Office Equipment 185,000 Office Salaries Expense 154,000 Rent expense, office space 121,000 Rent expense, selling space 106,000 Rent revenue 189,500 Retained Earnings 101,000 Sales 310,000 Sales Discounts 15,500 Sales Returns and Allowances 24,000 Sales Salaries Expense 71,000 Share Capital 98,000 Store Fixtures 466,500 Totals 579,000 499,500| 740,000 819,500 Net Loss 79,500 79,500 Totals 579,000 579,000 819,500 819,500 Total general and administrative expenses Total operating expenses. Other revenues and expenses