The following single-step income statement was prepared: Creative Tax Service Income Statement For the year ended December 31, 2014
Revenues: Tax services revenue $ 50,000 Interest revenue 200 Dividend revenue 50 Total revenues $ 50,250 Expenses: Salaries expense $ 30,000 Office expense 8,000 Rent expense 7,000 Income tax expense 1,575 Total expenses 46,575 Net Income $ 3,675
Prepare a multiple-step income statement for Creative Tax Service for the year ended December 31, 2014