E6-3 Tisdale Incorporated reports the following amount in its December 31, 2021, income statement. Sales revenue $300,000 $ 30,000 110,000 Income tax expense Cost of goods sold Administrative expenses 190,000 Nonoperating revenue Selling expenses General expenses 60,000 40,000 50,000 Required: 1. Prepare a multiple-step income statement 2. Explain how analyzing the multiple levels of profitability can help in understanding the future profit-generating potential of Tisdale Incorporated. Calculate inventory amounts when costs are rising (L06-3)