The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $ 159,000 Income Tax Expense 16,000 Merchandise Sales (gross revenue) for Cash 228,000 Merchandise Sales (gross revenue) on Credit 39,600 Office Expenses 18,400 Sales Returns and Allowances 6,690 Salaries and Wages Expense 37,800 Required: Prepare a multistep income statement.
