describe each of the main subtotals on an income statement sequentially from top to bottom.

Poquito Industries Inc. Income Statement For the Year Ended December 31, 2020 $1,420,000 600,000 820,000 320,000 500,000 10,000 $ 5,000 30,000 15,000 Sales revenue Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other revenues and gains Interest revenue Other expenses and losses Loss on disposal of part of Textile Division Loss on sale of investments Interest expense Income before income tax Income tax Income from continuing operations Discontinued operations Income from operations of Pizza Division, less applicable income tax of $24,800 Loss on disposal of Pizza Division, less applicable income tax of $41,000 Net income Per share Income from continuing operations Income from operations of discontinued division, net of tax Loss on disposal of discontinued operation, net of tax Net income 50,000 460,000 184,000 276,000 54,000 90,000 36,000 $ 240,000 $2.76 0.54 0.90 $2.40