Exercise $4-5($Algo$)$ Income statement presentation $[$LO$4-1]$

The following single$-$step income statement was prepared by the accountant of the Ax

$\backslash$table$[[\backslash$table$[[$AXEL CORPORATION$],[$Income Statement$],[$For the Year Ended December$]],,2024,],[$Revenues and gains:,,,$],[$Sales revenue,,,$ $640,000],[$Interest revenue,,,$37,000],[$Gain on sale of investments,,,$84,000],[$Total revenues and gains,,,$761,000],[$Expenses and losses:,,,$],[$Cost of goods sold,,$350,000,],[$Selling expense,,$64,000,],[$Administrative expense,,$84,000,],[$Interest expense,,$21,000,],[$Restructuring costs,,$60,000,],[$Income tax expense,,$45,500,],[$Total expenses and losses,,,$624,500],[$Net Income,,,$$136,500$