31. The following pretax amounts pertain to the Plymouth Chair Corp. for the year ended December 31, 2020 (20 pts) Gain on sale of equipment $ 10,000 Cost of goods sold 280,000 Operating expenses 84,000 Extraordinary gain 30,000 Loss on operations of discontinued business segment (24,000) Interest expense 4,000 Dividends 12,000 Sales 420,000 Prior period adjustment (for error correction) (16,000) Loss on disposal of discontinued business segment (40,000) The effective corporate tax rate is 35 percent. Prepare a multi-step income statement for the year ending December 31, 2020. (20 pts) HINTS: The Loss from Operations of the Discounted Segment will be (64000). Income Tax Expense will be 35% of this loss and it is a +, Extraordinary Gain is Reported Net of Taxes (30000 - 10,500 Tax) for net of $19,500