Presented below is information for Oakley Company for the month of March 2020.

Cost of goods sold $254,000

Rent expense $36,000

Freight-out 7,500

Sales discounts 8,800

Insurance expense 5,000

Sales returns and allowances 11,000

Salaries and wages expense 75,000

Sales revenue 425,000

Prepare a multiple -step income statement.

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