Prepare a multiple-step income statement for Armstrong Co. i…
Prepare a multiple-step income statement for Armstrong Co. in proper form from the following data for the year ended December 31. Sales, $755,000; cost of merchandise sold, $350,000; administrative expenses, $42,000; interest expense, $30,000; rent revenue, $25,000; selling expenses, $50,000. Insert a 2 column table here and right justify the column with numbers. It will make it easier to prepare and to read.