29 Multiple-step income statement. Hendrick, Inc. has the following data for the year ended December 31, 2017: Net sales $270,000 Discontinued operations loss 20,000 Cost of goods sold 165,000 Interest expense 3,000 Selling expenses 15,000 Administrative expenses 35,000 Shares of capital stock outstanding, 10,000 Tax rate of 30% on all items Instructions Prepare a multiple-step income statement for Hendrick, Inc. for the year ended December 31, 2017.