Wayman Corporation reports the following amounts in its December 31, 2012, income statement.
Sales revenue.............................$320,000
Income tax expense......................$ 40,000
Interest expense.............................10,000
Cost of goods sold.........................120,000
Salaries expense.............................30,000
Advertising expense........................20,000
Utilities expense............................40,000
Required:
Prepare a multiple-step income statement.