E3.6 (LO 1) (Multiple-Step Statement) The following balances were taken from the books of Alonzo Corp. on December 31, 2025. Interest revenue $86,000 Accumulated depreciation- equipment $ 40,000 Cash Sales revenue Accounts receivable Prepaid insurance 51,000 Accumulated depreciation 28,000 buildings 1,380,000 Notes receivable 155,000 150,000 Selling expenses 194,000 20,000 Accounts payable 170,000 Sales returns and allowances 150,000 Bonds payable 100,000 Allowance for doubtful accounts Sales discounts Land 7,000 Administrative and general 97,000 expenses 45,000 Accrued liabilities 32,000 100,000 Interest expense 60,000 Equipment Buildings Cost of goods sold 200,000 Notes payable 100,000 140,000 Loss from earthquake damage 150,000 621,000 Common stock 500,000 Retained earnings 21,000 Assume the total effective tax rate on all items is 20%. Instructions Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. [p. 3-43]