The following selected accounts from the Blue Door Corporation’s general ledger are presented below for the year ended December 31, 2025:



Advertising expense
$ 55,000
Interest revenue
$ 30,000


Common stock
250,000
Inventory
67,000


Cost of goods sold
1,085,000
Rent revenue
24,000


Depreciation expense
125,000
Retained earnings
535,000


Dividends
150,000
Salaries and wages expense
675,000


Freight-out
25,000
Sales discounts
8,500


Income tax expense
70,000
Sales returns and allowances
41,000


Insurance expense
15,000


Interest expense
70,000
Sales revenue
2,400,000



Instructions
Prepare a multiple-step income statement.


Prepare cost of goods sold section using periodic system.