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The adjusted trial balance of Cullumber Company for the year ended December 31, 2022, is as follows.
| | | Debit | | Credit |
| Cash | | $36,000 | | |
| Accounts Receivable | | 33,000 | | |
| Inventory | | 4,000 | | |
| Equipment | | 55,000 | | |
| Allowance for Doubtful Accounts | | | | $1,500 |
| Accumulated DepreciationEquipment | | | | 5,500 |
| Notes Payable | | | | 3,000 |
| Accounts Payable | | | | 15,000 |
| Unearned Service Revenue | | | | 6,600 |
| Sales Taxes Payable | | | | 3,600 |
| Salaries and Wages Payable | | | | 1,800 |
| FICA Taxes Payable | | | | 500 |
| Interest Payable | | | | 1,400 |
| Bonds Payable | | | | 15,000 |
| Mortgage Notes Payable | | | | 10,500 |
| Common Stock | | | | 17,500 |
| Retained Earnings | | | | 14,400 |
| Sales Revenue | | | | 219,400 |
| Cost of Goods Sold | | 122,000 | | |
| Salaries and Wages Expense | | 44,000 | | |
| Depreciation Expense | | 12,000 | | |
| Rent Expense | | 6,000 | | |
| Bad Debt Expense | | 2,000 | | |
| Interest Expense | | 700 | | |
| Dividends | | 300 | | |
| Discount on Bonds Payable | | 700 | | |
| | | $315,700 | | $315,700 |
The notes payable is due on January 10, 2023, and the mortgage notes payable matures in 2028. A principal payment of $2,000 is due in March 2023.
Prepare a multi-step income statement for the year ending December 31, 2022. CULLUMBER COMPANY Income Statement $ $ $ $ $ >
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