- a | |Nor nal ha l p-1 Heading Heading 2 ac . Styles Paragraph BE 4-1 The adjusted trial balance of Pacific Scientific Corporation on December 31, 2018, the end of the company's fiscal year, contained the following income statement items (S in millions): sales revenue, $2,106; cost of goods sold, $1,240; selling expenses, $126; general and administrative expenses, $105; interest expense, $35: and gain on sale of investments, $45. Income tax expense has not yet been recorded. The income tax rate is 40%. Prepare a single-step income statement for 2018. Ignore EPS disclosures. Income Statement December 31, 2018 106