Delaney Corporation's capital structure consists of 50,000 shares of common stock. At December 31, 2021 an analysis of the accounts and discussions with company officials revealed the following information:

Sales revenue	$1,300,000
Cost of Goods Sold	750,000
Loss from operations of discontinued product line	35,000
Loss on disposal of discontinued production line	70,000
Selling expenses	128,000
Cash	60,000
Accounts receivable	90,000
Unrealized gain on available for sale securities	12,000
Common stock	200,000
Interest revenue	8,000
Unearned service revenue	4,400
Interest payable	1,000
Interest expense	17,000
Administrative expenses	170,000
Dividends declared on common stock	24,000
Pension loss from minimum pension adjustment	20,000

Assume an income tax rate of 21%.

Prepare a multiple-step income statement for the year ended December 31st, 2021.