Exercise 6-2B Prepare a multiple-step income statement (LO6-2) A company reports the following amounts in its December 31, Year 1, income statement. Sales revenue Interest expense 30,000 $460,000 Salaries expense Utilities expense Income tax expense Cost of goods sold 50,000 Advertising expense 60,000 $ 60,000 140,000 40,000 Required: Prepare a multiple-step income statement. Multiple-step Income Statement For the year ended December 31, Year 1 Sales revenue Cost of goods sold Gross profit $ 460,000 140,000 $ 320,000 Total operating expenses 0 Operating income 170,000 Advertising expense 40,000 Salaries expense 50,000 Income before income taxes Interest expense 30,000