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Problem 126 Shown below is an income statement for 2014 that was prepared by a poorly Corporation. Howell Corporatio n INCOME STATEME NT December 31, 2014 Sales revenue Investment revenue Cost of goods sold Selling expenses Administrative expenses Interest expense Income before special items Special items Loss on disposal of a component of the business Major casualty loss (extraordinary item) Net federal income tax liability Net income Prepare a multiplestep income statement for 2014 for Howell Corporation tha generally accepted accounting principles (including format and terminology). H shares of common stock outstanding and has a 30% federal income tax rate o per share values to 2 decimal places, e.g. $2.50.) Howell Corporation INCOME STATEMENT For the Year Ended December 31, 2014