Camarillo Company Income Statement For the Year Ended December 31, 20xx Revenues Net Sales $200,000 Interest income 17,500 Total revenues $217,500 Costs and expenses Cost of goods sold $60,000 Selling Expenses 20,000 General and administrative expenses 27,500 Interest expense 12,500 Total costs and expenses 120.000 Net income $97.500 If the income statement were prepared in a multistep form, income from operations would be 1) $97,500 2) $92,500 3) $80,000