2 Wayman Corporation reports the following amounts in its December 31, 2024, income statement. Sales revenue Interest expense Salaries expense Utilities expense 03:01:36 Required: $460,000 Income tax expense 30,000 Cost of goods sold 50,000 Advertising expense 60,000 Prepare a multiple-step income statement. Answer is not complete. WAYMAN CORPORATION Multiple-Step Income Statement For the Year Ended December 31, 2024 Sales revenue Cost of goods sold $ 460,000 ( (140,000) Gross profit $ 320,000 ( Advertising expense 40,000 Utilities expense 60,000 Salaries expense 50,000 Total operating expenses Operating income. Interest expense Income tax expense Income before income taxes 100 150,000 170,000 30,000 (60,000) 140,000 Net income $ 80,000 1 $60,000 140,000 40,000