During 2020. Glentel Inc. sold its interest in a chain of wholesale outlets. This sale took the company out of the wholesaling busi completely. The company still operates its retail outlets. Following are eight profit-related items: Credit Debit $157,500 $ 485,000 1. Depreciation expense 2. Gain on sale of wholesale operation (net of $135,000 incone taxes) 3. Loss from operating wholesale operation (net of $111,000 tax benefit) 4. Salaries expense 5. Sales 6. Gain on expropriation of company property 7. Cost of goods sold 8. Income taxes expense 333,000 324,000 1,620,000 264,000 828,000 190,200 Present a multiple-step income statement for 2020, GLENTEL INC. Income Statement For Year Ended December 31, 2020 Operating expenses: Total operating expenses Other revenues/expenses: Discontinued operations: 0