In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data.

In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data. Salaries and wages expenses $562,650 Loss on disposal of plant assets $101,035 Cost of goods sold 1,194,270 Sales revenue 2,674,100 Interest expense 85,910 Income tax expense 30,250 Interest revenue 78,650 Sales discounts 193,600 Depreciation expenses 975,100 Utilities expense 133,100 Prepare a multiple-step income statement