The Income Statement and Balance Sheet columns below are from the work sheet of the Mandle Company for the year ended December 31, 20--. 
Required:
Prepare a multi-step income statement for Mandle Company for the current fiscal year. Include separate sections for selling expenses and general expenses under the heading "Operating Expenses" by using the classifications provided in the Account Title column of the work sheet.
Definitions:
Competitive Landscape
The dynamic market environment in which businesses compete, including factors such as competitors, customers, and market trends.
PEST Analysis
An analytical framework for assessing external macro-environmental factors influencing an organization, including Political, Economic, Social, and Technological aspects.
Competitive Landscape
The analysis of how businesses compete within a particular sector, including strategies, strengths, weaknesses, and market positions.
Royalties
Payments from the licensee to the licenser consisting of a percentage of what is earned from selling such products and services.
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