Exercise 5-11 In its income statement for the year ended December 31, 2022, Kingbird, Inc. reported the following condensed data. Operating expenses $ 730,000 Interest revenue $ 42,000 Cost of goods sold 1,265,000 Loss on disposal of plant assets 25,000 Interest expense 80,000 Net sales 2,208,000 Income tax expense 54,000 Other comprehensive income (net of $1,200 tax) 9,200 Your answer is partially correct. Try again. Prepare a multiple-step income statement. Kingbird, Inc. Income Statement For the Year Ended December 31, 2022 so Net Sales 2,208,000 Cost of Goods Sold 1,265,000 Gross Profit 943,000 730,000 Operating Expenses Income From Operations 213,000 Other Revenues and Gains Interest Revenue 42,000 Other Expenses and Losses Interest Expense 80,000 Loss on Disposal of Plant Assets 25,000 105,000 Income before Income Taxes 108,000 Income Tax Expense 54,000 Net Income / (Loss) 54,000 Your answer is partially correct. Try again. Prepare a comprehensive income statement. Kingbird, Inc. Comprehensive Income Statement For the Year Ended December 31, 2022 TOther Comprehensive Income / (Loss) Expenses Net Income /(Loss)