Bradley Corporation provided the following account balances as of the end of the current year. The company is subject to a 40% income tax rate.

Required
a. Prepare a condensed, multiple- step statement of net income for the current year ended December 31.
b. Prepare a footnote containing the supporting schedules needed for the condensed statement of net income format.

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Bradley Corporation Trial Balance (Selected Accounts) For the Year Ended December 31 Account Dividends Sales Interest Income Dividend Income Unrealized Gain on Trading Securities Gain on Disposal of Plant Assets Gain on Flood DamageBefore Tax Gain on Discontinued Operations-Before Tax Cost of Goods Sald Sales Salaries Expense Office Supplies Expense Advertising Expense Office Salaries Expense Systems Consulting Fees-General Selling Expenses Aocounting and Legal Fees- Administrative Depreciation Expense-General Amortization Expense-General Interest Expense Loss on Asset Impairment Unrealized Loss on Available-forSale Bonds Debit Credit $13,200 $1,245,890 6,700 5,400 12,000 16,700 18,700 30,000 65,000 32,500 21,500 79,500 23,500 18.900 75,000 34,500 89,750 12,000 14,000 59,900 6,080