Reference no: EM132620980

In 2013, Winbar, Inc. (a hardware retail company) sold 10,000 units of its product at an average price of $400 per unit. The company reported estimated returns and allowances in 2013 of $200,000. Winbar actually purchased 11,000 units of its product from its manufacturer in 2013 at an average cost of $300 per unit. Winbar began 2013 with 900 units of its product in inven- tory (valued at a cost of $300 per unit). Operating expenses (excluding depreciation) for Winbar, Inc. in 2013 were $400,000 and depreciation expense was $100,000. Winbar had $2,000,000 in debt outstanding throughout all of 2013. This debt carried an average interest rate of 10%. Finally, Winbar's tax rate was 40%. Winbar's fiscal year runs from January 1 through December 31.

Question 1: Given this information, construct Winbar's 2013 multi-step income statement.