Prepare a multiple-step income statement for Jackrabbit Inc. from the following singlestep statement. Net sales $1,840,000 Gain

Prepare a multiple-step income statement for Jackrabbit Inc. from the following singlestep statement.

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Net sales $1,840,000 Gain on sale of equipment 15,000 Interest income 13,000 1,868,000 Costs and expenses: Cost of goods sold 1,072,000 Selling expenses 270,000 General and administrative expenses 155,000 Depreciation 24,000 Equity losses 9,000 Interest expense 16,000 Income tax expense Net income 96,000 $ 226,000