The following information was taken from the records of Beauty Cosmetics Ltd. At December 31, 2014:

Requirements
1. Prepare Beauty Cosmetics' multi-step income statement for the fiscal year ended December 31, 2014. Exclude earnings-per-share data.
2. Evaluate income for the year ended December 31, 2014. Beauty Cosmetics' top managers hoped to earn income from continuing operations equal to 10% of sales.

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$ 11,000 71,000 567,000 ..63,000 87,000 Income tax expense (saving) Dividend revenue General expenses Sales revenue Continuing operations $25,000 Income from discontinued operations... 2,000 Loss on sale of discontinued assets.(8,900) Retained earnings, beginning Loss on sale of plant assets Income from discontinued operations Preferred shares $1.50 10,000 Selling expenses 7,000 Common shares 20,000 shares authorized 4,000 shares issued Dividends on common sha Interest expe Gain on lawsuit settlement 100,000 and issued. 350,000 37,000 23,000 8,000 Loss on sale of discontinued 27,000 319,000 assets Cost of goods sold