23 E4-6 (Multiple-Step and Extraordinary Items). The following balances were taken from the books of Maria Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold $ 86,000 51,000 1,380,000 150,000 20,000 150,000 7,000 45,000 100,000 200,000 140,000 621,000 Accumulated depreciation--equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general expenses Accrued liabilities Interest expense Notes payable Loss from earthquake damage (extraordinary item) Common stock Retained earnings $ 40,000 28,000 155,000 194,000 170,000 100,000 97,000 32,000 60,000 100.000 150,000 500,000 21,000 Assume the total effective tax rate on all items is 34%. Instructions Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year