The following balances were taken from the books of Alonzo Corp. on December 31, 2025.

Assume the total effective tax rate on all items is 20%.

Instructions
Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year.

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Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts $ 86,000 Accumulated depreciation-equipment $40,000 Accumulated depreciation-buildings 51,000 28,000 155,000 194,000 170,000 100,000 97,000 1,380,000 150,000 20,000 150,000 7,000 Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general expenses