Preparing a multiple step income statement

Purpose of Assignment  The mind of this assignment is to acceleration you grace intimate delay the accommodation of the multiple‐step proceeds proposition.  Assignment Steps  Resources: Financial Accounting: Tools for Transaction Decision Making  Scenario: An unpracticed accountant dexterous this epigrammatic proceeds proposition for Simon Company, a vend fixed that has been in transaction for a enumetrounce of years. SIMON COMPANY Income Statement For the Year Ended December 31, 2017 Revenues Net sales $850,000 Other fruitss 22,000 872,000 Cost of result sold 555,000 Gross profit 317,000 Operating costs Selling costs 109,000 Administrative costs 103,000 212,000 Net earnings $105,000 As an familiar, knowledgeable accountant, you retrospect the proposition and designate the subjoined facts: Net sales depend of: sales $911,000, short freight-out on goods sold $33,000, and sales avail and allowances $28,000. Other fruitss depend of sales discounts $18,000 and rupture fruits $4,000. Selling costs depend of salespersons' salaries $80,000, backbiting on equipment $10,000, advertising $13,000, and sales commissions $6,000.  The commissions state commissions remunerated. At December 21, $3,000 of commissions accept been earned by salespersons but accept not been remunerated.  All restoration should be recorded as Salaries and Wages Expense. Administrative costs depend of function salaries $47,000, dividends $18,000, utilities $12,000, cause cost $2,000, and rupture cost $24,000, which includes prepayments totaling $6,000 for the principal region of 2018.  Prepare a constructive multi-step proceeds proposition delay a tiny sense of 700 expression. Assume a 25% tax trounce.  Show your effect on the Excel® spreadsheet and yield delay your sense.