Cloud Comfort, Inc., researches, designs, manufactures, and distributes interior furnishings for use in various environments including office, health care, educational, and residential settings. The items reported on its income statement for the year ended December 31, 2020, are presented here (dollars in millions) in alphabetical order:

Required:
Using appropriate headings and subtotals, prepare a multiple-step consolidated income statement (showing gross profit, operating income, and any other subheadings you deem appropriate).

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Cost of products sold Income tax expense Interest expense Loss on sale of discontinued operations, net of income taxes Net sales Other expense Selling, general, and administrative expenses $1,575 49 19 (8) 2,490 20 643