Moon Company Income Statements for the Years Ended December 31, 2016, 2015 and 2014 2016 2015 2014 108,000 Net sales Cost of goods sold Gross profit Operating expenses Operating profit Income taxes Net income $220,000 $196,000 $150,000 169,000 147,000 $ 51,000 $ 49,000 $ 42,000 26,000 25,000 20,000 $ 25,000 $ 24,000 $ 22,000 7,800 7,500 7,000 $ 17,200 $ 16,500 $ 15,000 3.12. Prepare a multiple-step income statement for Jackrabbit Inc. from the following single step statement. Net sales Gain on sale of equipment Interest income $1,840,000 15,000 13,000 1,868,000 Costs and expenses: Cost of goods sold Selling expenses General and administrative expenses Depreciation Equity losses Interest expense Income tax expense Net income 1,072,000 270,000 155,000 24,000 9,000 16,000 96,000 $ 226,000 3.13. Income statements for Vari and on