Multiple-Step Income Statement The following multiple-step, Income statement was prepared for Carlsbad Company contains errors: CARLSBAD COMPANY Income Statement For the Year Ended February 28, 20Y8 Sales Cost of goods sold 8,440,000 (5,300,000) $3,140,000 Operating income $ 1,600,000 1,200,000 Expenses: Selling expenses Administrative expenses Delivery expense Total expenses Other expense: 100,000 (2,900,000) 240,000 80,000 $160,000 Interest revenue Gross profit Prepare a corrected Income statement for Carlsbad Company for the year ended February 28, 2018 Carlsbad Comnany Prepare a corrected income statement for Carlsbad Company for the year ended February 28 Carlsbad Company Income Statement For the Year Ended February 28, 20Y8 Expenses: Total expenses