Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect formaty BIG TOWY CORPORATION Profit and Loss December 31 Debit Credit $404,000 Net Sales Cost of Goods Sold Salaries and Wages Expense Office Expenses Travel Expenses Income Tax Expense Net Profit Totals $279.000 58, eee 16,000 1,000 15.000 35,000 $404,000 $484.000 Required: 1. Prepare a properly formatted multistep income statement that would be used for external reporting purposes