In its income statement for the year ended December 31, 2022, Sheffield Corp. reported the following condensed data.

Operating expenses $725,000

Interest revenue $38,000

Cost of goods sold 1,261,000

Loss on disposal of plant assets 22,000

Interest expense 76,000

Net sales 2,204,000

Income tax expense 50,000

Other comprehensive income (net of $1,200 tax) 8,800

Required:
Prepare a multiple-step income statement.