Question: Please write a multiple step income statement using the following accounts as needed. The tax rate is 30%. Common stock 1,000,000 Retained Earnings 3,200,000 Dividends

Please write a multiple step income statement using the following accounts as needed. The tax rate is 30%.

Common stock 1,000,000

Retained Earnings 3,200,000

Dividends 500,000

Interest Income 250,000

Interest Expense 100,000

Dividend Income 50,000

Gain on Disposal of Plant Assets 100,500

Unrealizezd Gain on Trading Securities 65,000

Unrealized Gain on Available for sale securities 10,000

Cost of Goods Sold 286,000

Selling Expenses 140,000

Sales Salaries Expenses 34,000

Depreciation Expense 100,000

Amortization Expense 25,000

Loss on Assset Impairment 12,000

Loss on Discontinued Operations 10,000

Sales 1,150,600

General Expense 250,000

Sales Commission Expense 250,000

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