A company showed the following data relating to its year-end activity:

• Net sales for the year totaled $465,000.

• Cost of goods sold for the year totaled $239,000.

• Regular operating expenses for the year were $113,200.

• Interest expense for the year was $11,000.

• In July, the company sold a major segment of its business at a gain of $50,000 before

  any tax effects. This segment of the company represented a major line of business that

  was totally separate from the rest of the operation.

• Prior to being sold, the business segment had Year-to-date sales of $60,000, cost of

  goods sold of $40,000, and operating expenses of $35,000. These amounts are not

  included in the previous information provided.

• The companys income tax rate is 30% of all items.

  Required: Prepare the companys income statement for this year, using the multiple-step format.