explain how it was solved

E5.1 (LO4), AP In its income statement for the year ended December 31, 2022, Laine Inc. reported the following condensed data. Prepare an income statement and comprehensive income statement Operating expenses $ 725.000 Interest revenue Cost of goods sold 1,256,000 Loss on disposal of plant assets Interest expense 70,000 Net sales Income tax expense 47.000 Other comprehensive income (net of $1,200 tax) Instructions a. Prepare a multiple-step income statement b. Prepare a comprehensive income statement. $ 33.000 17.000 2,200,000 8,300