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###### Presented below is information for Zales Company for the month of January 2017. Cost of goods...

Presented below is information for Zales Company for the month of January 2017. Cost of goods sold Freight-out Insurance expense Salaries and wages expense $35,000 8,000 12,000 Sales returns and allowances 13,000 421,000 $280,000 Rent expense 7,000 Sales discounts 42,000 Sales revenue Prepare a multiple-step income statement. ZALES COMPANY Income Statement For the Month Ended January 31, 2017

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