Using the Following Data, Prepare a Multistep Income Statement for Matthew's

Essay

Using the following data, prepare a multistep income statement for Matthew's Dry Goods for the month ended February 28, 2010.
$\begin{array}{lr}\text { Cost of Goods Sold } & \$ 15,000 \\\text { General and Administrative Expenses } & 4,000 \\\text { Net Sales } & 25,000 \\\text { Selling Expenses } & 3,500\end{array}$