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The following amounts appeared on the Mendelstein Companys adjusted trial balance as of October 31, 2020, the end of its fiscal year:

	Debit			Credit
Merchandise inventory	$	1,850
Other assets		49,000
Liabilities				$	45,340
Joe Mendelstein, capital					37,780
Joe Mendelstein, withdrawals		3,900
Interest income					195
Sales					105,400
Sales returns and allowances		8,400
Sales discounts		1,215
Purchases		44,400
Purchase returns and allowances					2,600
Purchase discounts					990
Transportation-in		5,500
Sales salaries expense		18,700
Rent expense, selling space		10,100
Store supplies expense		4,100
Advertising expense		9,900
Office salaries expense		22,900
Rent expense, office space		8,500
Office supplies expense		3,840
Totals	$	192,305		$	192,305

Present a multiple-step income statement that lists the companys net sales, cost of goods sold, and gross profit from sales.

5. Present a condensed single-step income statement that lists these expenses: cost of goods sold, selling expenses, and general and administrative expenses.

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