STATEMENT Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for Rau Office Supplies for the year ended December 31, 20.Sales .. $148,300Sales Returns and Allowances1,380Sales Discounts2,166Interest Revenue . 240Merchandise Inventory, January 1, 20 . 26,500Purchases98,000Purchases Returns and Allowances … 2,180Purchases Discounts .. 1,960Freight-In . 750Merchandise Inventory, December 31, 2033,250Wages Expense23,800Supplies Expense .. 900Telephone Expense1,100Utilities Expense7,000Insurance Expense1,000Depreciation ExpenseEquipment . 3,100Miscellaneous Expense .. 720Interest Expense . 3,880
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