Reference no: EM132480558

Question - The following is a partial list of account balances for the Supply Company at December 31, 2010:

Cash 80,850

Accounts receivable 23,800

Inventory 190,950

Supplies 3,800

Land 134,300

Accounts payable 42,300

Common stock 32,150

Retained earnings, beginning 70,250

Sales 456,150

Cost of goods sold 380,250

Salaries expense 32,280

Utilities expense 9,200

Other operating expense 20,000

Gain on sale of land 6,000

Required - From the above information, prepare the properly formatted multistep income statement.