Use the following information to prepare a multiple-step income statement. The income tax rate on all items is 40%. (EPS information is not required.)
Cost of Goods Sold $4,000
Interest Expense 1,100
Income (loss) from discontinued Operations (1,000)
Selling and administrative Expense 1,750
Extraordinary Loss (400)
Sales 10,000
Dividends 700
Loss on sale of discontinued Operations (200)