Reference no: EM132824844
The following selected accounts from the Blue Door Corporation's general ledger are presented below for the year ended December 31, 2022:
Advertising expense$ 55,000
Interest revenue$ 30,000
Common stock 250,000
Inventory 67,000
Cost of goods sold 1 ,085,000
Rent revenue 24,000
Depreciation expense 125,000
Retained earnings 535,000
Dividends 150,000
Salaries and wages expense 675,000
Freight-out 25,000
Sales discounts 8,500
Income tax expense 70,000
Sales returns and allowances 41,000
Insurance expense 15,000
Sales revenue 2,400,000
Interest expense 70,000
Problem 1: Create a multiple-step income statement.