Prepare a multiple-step income statement for Jackrabbit, Inc. from the following single-step statement.
Net sales ............$1,840,000
Gain on sale of equipment.......15,000
Interest income............13,000
Costs and expenses: ........1,868,000
Cost of goods sold..........1,072,000
Selling expenses...........270,000
General and admin. Expenses ....155,000
Depreciation.............24,000
Equity losses .............9,000
Interest expense ............16,000
Income tax expense .........96,000
Net income............$ 226,000