Caterpillar Products, Inc. provided the following information from its current-year trial balance. (Click the icon to view the trial balance.) Prepare a multiple-step income statement for the year ended December 31. b. Sales $3,000,000 Cost of Goods Sold (775,000) Less: Gross Profit $2,225,000 $3,000,000 Sales (775,000) Less: Cost of Goods Sold Gross Profit $2,225,000 General and Administrative Expenses: Gross Profit Income Before Tax Income From Continuing Operations Operating Expenses: Operating Income Other Expenses and Losses Other Revenues and Gains Sales Revenue Selling Expenses: Accounting and Legal Fees-General Accumulated Other Comprehensive Income t-year trial balance. Advertising Expense | Amortization Expense-General r 31. The tax rate is 35 Common Stock ber 31. Cost of Goods Sold Depreciation Expense-General $3,000,000 Dividend Income (775,000) $2,225,0 Dividends Caterpillar Products, Inc. Trial Balance (Partial) For the Year Ended December 31 Account Debit Credit Common Stock (no par)-Beginning Balance $ 1,525,000 Retained Earnings-Beginning Balance 3,200,000 Accumulated Other Comprehensive Income-Beginning Balance 97,000 Dividends 2$ 90,000 Sales 3,000,000 Interest Income 40,000 Dividend Income 16,000 Gain on Disposal of Plant Assets 115,000 Unrealized Gain on Trading Securities 87,000 Unrealized Gain on Available-for-Sale Bonds 53,000 Cost of Goods Sold 775,000 Selling Expenses 32,000 Office Supplies Expense 141,000 Sales Salaries Expense 67.000 40,000 Interest Income 16,000 Dividend Income 115,000 Gain on Disposal of Plant Assets 87,000 Unrealized Gain on Trading Securities 53,000 Unrealized Gain on Available-for-Sale Bonds 775,000 Cost of Goods Sold 32,000 Selling Expenses 141,000 Office Supplies Expense 67,000 Sales Salaries Expense Advertising Expense 70,000 Office Salaries Expense 84,000 Accounting and Legal Fees-General 10,000 Systems Consulting Fees-General 54,000 Depreciation Expense-General 82,000 Amortization Expense-General 52,000 Interest Expense 23,000 Loss on Discontinued Operations-Before Tax 100,000 Loss on Asset Impairment 16,000 Caterpillar Products, Inc. provided the following information from its current-year trial balance. (Click the icon to view the trial balance.) Prepare a multiple-step income statement for the year ended December 31. b. Sales $3,000,000 Cost of Goods Sold (775,000) Less: Gross Profit $2,225,000 $3,000,000 Sales (775,000) Less: Cost of Goods Sold Gross Profit $2,225,000 General and Administrative Expenses: Gross Profit Income Before Tax Income From Continuing Operations Operating Expenses: Operating Income Other Expenses and Losses Other Revenues and Gains Sales Revenue Selling Expenses: Accounting and Legal Fees-General Accumulated Other Comprehensive Income t-year trial balance. Advertising Expense | Amortization Expense-General r 31. The tax rate is 35 Common Stock ber 31. Cost of Goods Sold Depreciation Expense-General $3,000,000 Dividend Income (775,000) $2,225,0 Dividends Caterpillar Products, Inc. Trial Balance (Partial) For the Year Ended December 31 Account Debit Credit Common Stock (no par)-Beginning Balance $ 1,525,000 Retained Earnings-Beginning Balance 3,200,000 Accumulated Other Comprehensive Income-Beginning Balance 97,000 Dividends 2$ 90,000 Sales 3,000,000 Interest Income 40,000 Dividend Income 16,000 Gain on Disposal of Plant Assets 115,000 Unrealized Gain on Trading Securities 87,000 Unrealized Gain on Available-for-Sale Bonds 53,000 Cost of Goods Sold 775,000 Selling Expenses 32,000 Office Supplies Expense 141,000 Sales Salaries Expense 67.000 40,000 Interest Income 16,000 Dividend Income 115,000 Gain on Disposal of Plant Assets 87,000 Unrealized Gain on Trading Securities 53,000 Unrealized Gain on Available-for-Sale Bonds 775,000 Cost of Goods Sold 32,000 Selling Expenses 141,000 Office Supplies Expense 67,000 Sales Salaries Expense Advertising Expense 70,000 Office Salaries Expense 84,000 Accounting and Legal Fees-General 10,000 Systems Consulting Fees-General 54,000 Depreciation Expense-General 82,000 Amortization Expense-General 52,000 Interest Expense 23,000 Loss on Discontinued Operations-Before Tax 100,000 Loss on Asset Impairment 16,000 Caterpillar Products, Inc. provided the following information from its current-year trial balance. (Click the icon to view the trial balance.) Prepare a multiple-step income statement for the year ended December 31. b. Sales $3,000,000 Cost of Goods Sold (775,000) Less: Gross Profit $2,225,000 $3,000,000 Sales (775,000) Less: Cost of Goods Sold Gross Profit $2,225,000 General and Administrative Expenses: Gross Profit Income Before Tax Income From Continuing Operations Operating Expenses: Operating Income Other Expenses and Losses Other Revenues and Gains Sales Revenue Selling Expenses: Accounting and Legal Fees-General Accumulated Other Comprehensive Income t-year trial balance. Advertising Expense | Amortization Expense-General r 31. The tax rate is 35 Common Stock ber 31. Cost of Goods Sold Depreciation Expense-General $3,000,000 Dividend Income (775,000) $2,225,0 Dividends Caterpillar Products, Inc. Trial Balance (Partial) For the Year Ended December 31 Account Debit Credit Common Stock (no par)-Beginning Balance $ 1,525,000 Retained Earnings-Beginning Balance 3,200,000 Accumulated Other Comprehensive Income-Beginning Balance 97,000 Dividends 2$ 90,000 Sales 3,000,000 Interest Income 40,000 Dividend Income 16,000 Gain on Disposal of Plant Assets 115,000 Unrealized Gain on Trading Securities 87,000 Unrealized Gain on Available-for-Sale Bonds 53,000 Cost of Goods Sold 775,000 Selling Expenses 32,000 Office Supplies Expense 141,000 Sales Salaries Expense 67.000 40,000 Interest Income 16,000 Dividend Income 115,000 Gain on Disposal of Plant Assets 87,000 Unrealized Gain on Trading Securities 53,000 Unrealized Gain on Available-for-Sale Bonds 775,000 Cost of Goods Sold 32,000 Selling Expenses 141,000 Office Supplies Expense 67,000 Sales Salaries Expense Advertising Expense 70,000 Office Salaries Expense 84,000 Accounting and Legal Fees-General 10,000 Systems Consulting Fees-General 54,000 Depreciation Expense-General 82,000 Amortization Expense-General 52,000 Interest Expense 23,000 Loss on Discontinued Operations-Before Tax 100,000 Loss on Asset Impairment 16,000