Multi-step Income Statement From the following accounts, listed in alphabetical order, prepare a multi-step income statement for Karlman Distributors for the year ended December 31. All accounts have normal balances.

Selling, General and Administrative Expense	$196,000
Cost of Goods Sold	335,000
Interest Expense	5,000
Sales Revenue	560,000
Income Tax Expense	10,000

KARLMAN DISTRIBUTERS Income Statement For the Year Ended December 31
Answer: Cost of Goods SoldInterest ExpenseIncome Tax ExpenseSales RevenueSelling, General and Administrative Expense	$Answer
Answer: Cost of Goods SoldInterest ExpenseIncome Tax ExpenseSales RevenueSelling, General and Administrative Expense	Answer
Gross Profit on Sales	Answer
Operating Expenses
Answer: Cost of Goods SoldInterest ExpenseIncome Tax ExpenseSales RevenueSelling, General and Administrative Expense	Answer
Income from Operations	Answer
Other Income and Expense
Answer: Cost of Goods SoldInterest ExpenseIncome Tax ExpenseSales RevenueSelling, General and Administrative Expense	Answer
Income before Income Taxes	Answer
Answer: Cost of Goods SoldInterest ExpenseIncome Tax ExpenseSales RevenueSelling, General and Administrative Expense	Answer
Net Income	$Answer