View Policies Current Attempt in Progress Sage Hill Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31, 2024. The following information has been taken from the adjusted trial balance: Accounts payable $28,560 Interest expense $5,600 Cash dividends-common 67,200 Notes payable 112,000 Common shares 224,000 Retained earnings (Aug 1, 2023) 394,240 Cost of goods sold 347,200 Salaries expense 156,800 Dividends payable 16,800 Sales 744,800 Income tax expense 33,600 Supplies expense 11,200 Income tax payable 3,360 Unearned revenue 13,440 All accounts have normal balances and total assets equal $915,600. Sage Hill has a 20% income tax rate.(a1) Prepare a multiple-step income statement. SAGE HILL INC. Income Statement $ v $ eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit