In its income statement for the year ended December 31, 2015, Lemere Company reported the following condensed data.

Operating expenses	$725,000	Interest revenue	$ 28,000
Cost of goods sold	1,289,000	Loss on disposal of plant assets	17,000
Interest expense	70,000	Net sales	2,200,000

A. Prepare a multiple-step income statement.

B. Prepare a single-step income statement.

(a)

Pge 259

Lemere Company

Income Statement

For the Year Ended December 31, 2015

(b)
Lemere Company
Income Statement
For the Year Ended December 31, 2015