A single-step income statement follows. Present the information in a multistep income statement, and indicate what insights can be obtained from the multistep form as opposed to the single-stepform.

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Nomar Parra Company Income Statement For the Year Ended December 31, 2014 Revenues: Net sales Interest income Total revenues $1,197,132 5,720 $1,202,852 Costs and expenses: Cost of goods sold Selling expenses General and administrative expenses Interest expense Total costs and expenses $777,080 203,740 100,688 13,560 1,095,068 107,784 Net income