Refer to the Following Trial Balance Prepare a Multi-Step Income Statement

Refer to the following trial balance.
$$\begin{array} { | l | r | r | } \hline & \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 15,000 & \\\hline \text { Accounts Receivable } & 42,000 & \\\hline \text { Merchandise Inventory } & 60,000 & \\\hline \text { Supplies } & 15,000 & \\\hline \text { Land } & 300,000 & \\\hline \text { Accounts Payable } & & \$ 3,000 \\\hline \text { Notes Payable } & & 25,000 \\\hline \text { Smith, Capital } & & 326,000 \\\hline \text { Smith, Withdrawals } & 3,000 & \\\hline \text { Sales Revenues } & & 480,000 \\\hline \text { Sales Returns and Allowances } & 6,000 & \\\hline \text { Sales Discounts } & 9,000 & \\\hline \text { Cost of Goods Sold } & 240,000 & \\\hline \text { Salary Expense } & 15,000 & \\\hline \text { Utility Expense } & 69,000 \\\hline \text { Rent Expense } & 54,000 \\\hline \text { Interest Expense } & \underline { 6,000 } \\\hline \text { Totals } & \$ 834,000&\$834,000 \\\hline\end{array}$$ Prepare a multi-step income statement: