Prepare a multistep income statement

Tisdale Incorporated reports the following amount in its December 31, 2018, income statement. Net sales Gain on land sale* Selling expenses General expenses $ 275,000 105,000 55,000 45,000 Income tax expense Cost of goods sold Administrative expenses $ 25,000 185,000 35,000 On July 12, 2018, the company sold land for $440,000 that it had previously purchased for $335,000, resulting in a $105,000 gain. This is the only land owned by the company