E5.10 Prepare multiple-step and single-step income statement In its income statement for the year ended December 31, 2020, Anhad Company reported the following condensed data. Operating Expenses $625,000 Interest revenue $25,000 Cost of goods sold 1,189,000 Loss on disposal of plant assets 17,000 Interest expense 70,000 Net sales 2,500,000 Instructions: (a) Prepare a multiple-step income statement. (b) Prepare a single-step income statement. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". (a) Multiple-step income statement Net sales Cost of goods sold Gross profit ANHAD COMPANY Income Statement For the Year ended December 31, 2020 Operating expenses Income from operations Other revenues and gains Interest revenue Other expenses and losses Interest expense Loss on disposal of plant assets Net income