Calculate Multi step income staement.

Sports World Incorporated Income Statement Year Ended, December 31, 2022 REVENUES: \begin{tabular}{lr} Sales Revenue (note 7) & $585,450 \\ Supplier rebates (note 8) & 14,150 \\ Unrealized holding gain (FV-OCI Investments) & 9,800 \\ Interest revenue & 11,500 \\ Dividend revenue & 85,000 \\ Total Revenues & $705,900 \\ \hline \end{tabular} EXPENSES: \begin{tabular}{lr} \hline Freight in and freight out (note 9) & $16,000 \\ Cost of items sold & 258,000 \\ Depreciation expense (note 10) & 46,500 \\ Bad debts expense & 41,600 \\ Income tax expense & 18,735 \\ Interest expense & 12,000 \\ Loss on sale of equipment & 18,000 \\ Write-off of obsolete inventory & 35,000 \\ Property taxes & 12,500 \\ Repairs \& maintenance & 10,000 \\ Salaries \& wages & 67,000 \\ Utilities & 55,000 \\ Dividends expense (note 11) & 90,000 \\ \hline Total Expenses & $680,335 \\ \end{tabular} Net Income $25,565