= 1 2. Comprise a multi-step income statement. Assume Gross Sales = $945,000; Sales $40,000; Cost of Goods Sold- Returns and Allowances $70,000; Sales Discounts $389,000; Interest Expense $15,000; Other Sales and General Administrative Expenses -$150,000; and the Tax Rate is 21%. Be sure to include and state the "GP, EBIT, EBT and NI".