Please use the accounts provided to prepare a multi-step income statement (maximum of 1 point for a single-step income statement). Besides listing the accounts provided, please be sure to provide subtotals for

• Gross Profit
• Operating Income
• Income Before Income Taxes

Your income statement will conclude with:

• Net Income
• Earnings Per Share

Note that in this example, there is no Discontinued Operations. Please use the slides from the Chapter 4 PowerPoints pasted below to guide you.

Sales	$ 274,515
Cost of Sales	169,559
Depreciation Expense	11,056
Income Tax Expense	9,680
Interest and dividend income	3,763
Interest expense	2,873
Loss on sale of investment	87
Other Operating Expenses	19,829
Research and Development	18,752
Weighted-average number of common shares outstanding	17,352

Please submit your answers below or attach an Excel sheet.