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Multiple-Step Income Statement Using the following information, prepare a multiple-step income statement. Cost of goods sold . . . . = $ 6.000 Interest expense . . . . 1,100 Selling and administrative expense 750 Cash... .1 1 1 400 Sales . . . . 10.000 Extraordinary gain (net of income taxes). .. 250 Dividends . . . . . . . 700 Retained earnings (beginning) . . 1,000 Income tax expense (on continuing operations). . . . . 1,200Multiple-Step Income Statement Using the following information, prepare a multiple-step income statement. Cost of goods sold . . . $ 8,000 Interest expense . . . . 900 Selling and administrative expense . 1,000 Cash . . .. 600 Sales . . . 13,000 Accrued wages payable . .. 320 Dividends . ..... 500 Retained earnings (beginning) . . 700 Income tax expense . .. 1,000