In its income statement for the year ended December 31, 2022, Sheffield Corp. reported the following condensed dat Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense $511,500 1,085,700 78,100 71,500 341,000 Loss on disposal of plant assets Sales revenue Income tax expense Sales discounts Utilities expense $91,850 2,431,000 27,500 176,000 121,000 (a) Your answer is partially correct. Try again. Prepare a multiple-step income statement. (List other revenues before other expenses.) Sheffield Corp. Income Statement For the Year Ended December 31: 2012 Net Sales Sales Revenue 2431000 Less Interest Revenue 71500 Total Revenues 2502500 Cost of Goods Sold 1085700 Gross Profit 1416800 Operating Expenses 341000 Depreciation Expense Utilities Expense 121000 Salaries and Wages Expense S11500 973500 Total Operating Expenses Income From Operations Other Revenues and Gains 71500 Interest Ravenue 2502500 Total Revenues 10B5700 Cost of Goods Sold 1416800 Gross Profit Operating Expenses 341000 Depreciation Expense Utilities Expense 121000 Salaries and Wages Expense 511500 Total Operating Expenses 973500 x Income From Operations Other Revenues and Gains Interest Revenue 71500 Other Expenses and Losses Interest Expense 78100 Loss on Disposal of Plant Assets 91850 169950 x Income Before Income Taxes Income Tax Expense 27500 Net Income / (Loss)