View Policies Current Attempt in Progress The selected accounts from the Cheyenne Corp.'s accounting records are presented below for the year ended December 31, 2022 Advertising expense $48,400 Interest revenue $26,400 Common stock 220,000 Inventory 58.960 Cost of goods sold 954,800 Rent revenue 21.120 Depreciation expense 110,000 Retained earnings 470,800 Dividends 132,000 Salaries and wages expense 594,000 Freight-out 22.000 Sales discounts 7,480 Income tax expense 61.600 Sales returns and allowances 36,080 Insurance expense 13,200 Sales revenue 2,112,000 Interest expense 61.600 Prepare a multiple-step income statement. CHEYENNE CORP. Income Statement Sales Sales Revenue Less # Sales Discounts Sales Returns and Allowances Cost of Goods Sold Gross Profit Operating Expenses Advertising Expense Income Statement $ Depreciation Expense Freight-Out Insurance Expense Salaries and Wages Expense Total Operating Expenses Income From Operations Other Expenses and Losses Interest Revenue Rent Revenue Total Operating Expenses Income From Operations Other Expenses and Losses Interest Revenue Rent Revenue Net income/(Loss) eTextbook and Media