The following information from Buchanan Company's current operations is available:

Required

a. Prepare a multiple-step income statement. Disregard earnings per share.

b. Prepare a single-step income statement. Disregard earnings per share.

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Administrative expenses.. Cost of goods sold..... Sales revenue... Selling expenses Interest expense. Loss from operations of discontinued segment $ 73,000 470,000 772,000 87,000 10,000 60,000 Gain on disposal of discontinued segment. 40,000 Income taxes: Amount applicable to ordinary operations... 40,000 Reduction applicable to loss from operations of discontinued segment.. Amount applicable to gain on disposal of discontinued segment... 14,000 8,000