The following information for Lesky Corporation covers the year ended December 31, 2000:

LESKY CORPORATION Income Statement For the Year Ended December 31, 2000 Revenue:

Revenues from sales $362,000 Rental income 1,000 Interest 2,400 Total revenue 365,400 Expenses:

Cost of products sold $242,000 Selling expenses 47,000 Administrative and general expenses 11,400 Interest expense 2,200 Federal and state income taxes 20,300 Total expenses 322,900 Net income $ 42,500 Required Change this statement to a multiple-step format, as illustrated in this chapter.