Use the information below and prepare the Multi-Step Income Statement for Hot Place on August 31.

Sales	$1,100,000
Interest Revenue	20
Sales Discounts	20,000
Sales Returns and Allowances	30,000
Cost of Goods Sold	750,000
Delivery Expense	1,500
Sales Salaries Expense	100,000
Office Supplies Expense	4,300
Store Supplies Expense	725
Admin Salaries Expense	300
Depreciation Expense - Store Trucks	600
Depreciation Expense - Office Equipment	500
Rent Expense - Selling	500
Rent Expense - Office	1,900
Interest Expense	5
Office Insurance Expense	325

 

Hot Place
Income Statement
For Month Ended December 31

Description	Amount	Total	Group Total
Subcategory,Revenue:
		Single line
	Single line	Single line
Gross ProfitIncome from OperationsNet IncomeNet SalesTotal General & Admin ExpensesTotal Operating ExpensesTotal Other Revenue / ExpensesTotal Selling Expenses		Single line
		Single line	Single line
Gross ProfitIncome from OperationsNet IncomeNet SalesTotal General & Admin ExpensesTotal Operating ExpensesTotal Other Revenue / ExpensesTotal Selling Expenses			Single line
Subcategory,Operating Expenses
Subcategory,Selling Expenses
	Single line	Single line
Gross ProfitIncome from OperationsNet IncomeNet SalesTotal General & Admin ExpensesTotal Operating ExpensesTotal Other Revenue / ExpensesTotal Selling Expenses		Single line
Subcategory,General and Administrative Expenses
	Single line	Single line
Gross ProfitIncome from OperationsNet IncomeNet SalesTotal General & Admin ExpensesTotal Operating ExpensesTotal Other Revenue / ExpensesTotal Selling Expenses		Single lineSingle line
Total Operating Expenses			Single lineSingle line
Income from Operations			Single line
Subcategory,Other Revenue / Expenses
			Single line
Gross ProfitIncome from OperationsNet IncomeNet SalesTotal General & Admin ExpensesTotal Operating ExpensesTotal Other Revenue / ExpensesTotal Selling Expenses			Single lineSingle line
Net Income			Single line