You are the accountant who is charge of Larramore's Shop and Go LLC. It is your responsibility to
provide financial statements for the year ending 12/31/2024.
Use the following data to compute the net income using a MULTI-STEP INCOME STATEMENT.
Revenues net of returns, allowances, and discounts $427,550
Cost of Goods Sold $201,000
Salaries Expense $68,000
Rent Expense $12,000
Advertising Expense $28,000
Utilities Expense $1,485
Interest Expense $286
Investment Income $3,500
Interest Income $238
Income tax Expense $1275
Make sure you use the multi-step format used in the textbook which includes the proper
headings. You may use Excel to prepare this or Word. It is easier to do this in Excel. If you do not
know how to use Excel, you need to learn. Most business programs will require this.