E5-8 Prepare multi-step income statement and caculate In its income statement for the year ended December 31, 2017, Darren Company reported the following condensed data. Salaries and wages expense Cost of goods sold nterest expense Interest revenue Depreciation expense S83,500 2,210,000 25,000 160,000 110,000 465,000 Loss on disposal of plant assets 987,000 Sales revenue 71,000 Income tax expense 65,000 Sales discounts 10,000 Utilities expense Instructions (a) Prepare a multi-step income statement. DARREN COMPANY Income Statement For the Year Ended December, 2017 Sales Net Sales Gross profit Operating expenses S0 Total operating expenses Income from operations Other revenues and gains Other expenses and losses Income before income taxes 0 Net income S0