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Use the following information to prepare a multiple-step

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Use the following information to prepare a multiple-step income statement.  The income tax rate on all items is 40%. (EPS information is not required.)

Cost of Goods Sold                                                         $4,000

Interest Expense                                                            1,100

Income (loss) from discontinued Operations                  (1,000)

Selling and administrative Expense                                 1,750

Extraordinary Loss                                                           (400)

Sales                                                                                10,000

Dividends                                                                          700

Loss on sale of discontinued Operations                          (200)

Reference no: EM13481882

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