Caterpillar Products, Inc. provided the following information from its current-year trial balance, (Click the icon to view the trial balance.) Requirements a Prepare a single-step income statement for the year ended December 31. The tax rate is 35% b. Prepare a multiple-step income statement for the year ended December 31, Requirement a. Prepare a single-step income statement for the year ended December 31. The tax rate is 35% Prepare Caterpillar's single-step income statement for the current year, one section at a time. (Use parentheses or a minus sign to enter a loss from discontinued operations.) Caterpillar Products, Inc. Statement of Net Income For the Year Ended December 31 Trial balance Caterpillar Products, Inc. Trial Balance (Partial) For the Year Ended December 31 Account Debit Credit $ 1,525,000 3,800,000 105,000 $ 76,000 3,600,000 Common Stock (no par)-Beginning Balance Retained Earnings-Beginning Balance Accumulated Other Comprehensive Income-Beginning Balance Dividends Sales Interest Income Dividend Income Gain on Disposal of Plant Assets Unrealized Gain on Trading Securities Unrealized Gain on Available-for-Sale Bonds Cost of Goods Sold Selling Expenses Office Supplies Expense 48,000 22,000 112,000 89,000 61,000 875,000 36,000 125,000 Print Done Dividend Income 22,000 112,000 89,000 61,000 875,000 36,000 125,000 65,000 Gain on Disposal of Plant Assets Unrealized Gain on Trading Securities Unrealized Gain on Available-for-Sale Bonds Cost of Goods Sold Selling Expenses Office Supplies Expense Sales Salaries Expense Advertising Expense Office Salaries Expense Accounting and Legal Fees-General Systems Consulting Fees-General Depreciation Expense-General Amortization Expense-General Interest Expense Loss on Discontinued Operations Before Tax Loss on Asset Impairment 68,000 78,000 10,200 58,000 80,000 40,000 25,000 102,000 28,000