2. Income Statement with Irregular Items Presented below is information related to American Horse Company for 20x9 Sales Cost of goods sold Interest revenue $25,000,000 17,000,000 70,000 300,000 520,000 905,000 110,000 730,000 150,000 4,700,000 Interest expense- Loss on disposal of equipment (normal recurring) Income taxes on continuing operations for 20x9 Gain on sale of investments (normal recurring) Gain on disposal of the wholesale division Loss on operations of the wholesale division Selling and administrative expenses Required: Prepare a multi-step income statement. The company's tax rate is 40%