MMT Corporation reports the following income statement items ($ in millions) for the year ended December 31, 2024: sales revenue, $2,000; cost of goods sold, $1,270; selling expense, $130; general and administrative expense, $120; interest expense, $50; and gain on sale of investments, $70. Income tax expense has not yet been recorded. The income tax rate is 25%. Required: Prepare a multiple-step income statement. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Answer is not complete. MMT CORPORATION Income Statement For the Year Ended December 31, 2024 Sales revenue. Cost of goods sold Gross profit Operating expenses Selling expense Total operating expenses Operating income Other income (expense) 130 120 2,000 (1,270) 730 250 480 Gain on sale of investments 70 Interest expense (50) O Total other income, net Income before income taxes 20 500- Income tax expense (125) 000