Natural State Corp. provided the following information for the year ended December $31,2019$:

Natural State had Sales of $$2,100,000$ during $2019.$

Natural State had beginning inventory of $10,000$ units with a cost of $$42$ per unit and purchased

$23,000$ units of inventory at $$45$ per unit during $2019.$ A physical count indicated $11,000$ units in

$2019$ ending inventory. Natural State uses a periodic inventory system and a LIFO assumption.

Selling, general, and administrative expenses totaled $$325,000$ for the year.

Interest expense totaled $$200,000$ for the year.

In $2019,$ Natural State sold a piece of manufacturing equipment for $$180,000.$ The asset had a

historical cost of $$320,000$ and had accumulated depreciation of $$118,000$ at the time of sale.

During $2019,$ Natural State's CFO noticed that bad debt expense in the $2018$ income statement was

$$50,000$ too low as a result of an accounting error made by a Natural State employee in the prior year.

Natural State sold its furniture production component during $2019$ and the disposal of the component

constituted a strategic shift. The component generated a loss from operations of $$240,000$ during

The gain on the disposal of the component's assets was $$160,000.$

Natural State paid $$100,000$ of common stock dividends during $2019.$ Natural State had a weighted

average of $150,000$ common shares outstanding.

Natural State is taxed at a rate of $30\%$ on its Income Before Taxes.

Prepare a multi$-$step Income Statement for $2019.$ Include the following subtotals: Gross Profit,

Operating Income, Income Before Taxes, Income from Continuing Operations and Net Income.

List Basic EPS on a line below Net Income. No iournal entries are required.

Income Statement