Multiple Step Income Statement

Below is a single step income statement for Martin Company for the year ended $\frac{12}{31}\frac{?}{?}$ year $1.$ It includes discontinued operations and other comprehensive income.

Required: Reformat the income statement as a multiple step income statement

Martin Company

Income Statement and Comprehensive Income

For the year ended $12/31/$year $1$

Revenues and gains

Net sales

Interest revenue

Gain on disposal of assets

Total Revenues and gains

$[$$$460,000],[3,000],[600],[463,600]$

Expenses and losses

Cost of Goods sold

Salaries and wages expense

Utilities expense

Advertising expense

Depreciation expense

Freight out

Insurance expense

Interest expense

Income tax expense

Casualty loss from vandalism Total expenses and losses

$441\mathrm{.}100$

Net income

$22,500$

Unrealized loss on available$-$for$-$sale bond investment $($net of tax$)$

$\backslash$table$[[316,000,],[64,000,],[17,000,],[15,000,],[8\mathrm{.}000,],[7,000,],[2,000,],[1,800,],[10,100,],[200,],[,441\mathrm{.}100],[,22,500],[,(982)],[,$$$21\mathrm{.}518]]$

$(,982)$

Comprehensive income