Prepare Income Statement

2. Empresas Olmedo (the same as exercise 1) also needs you to correctly prepare your Statement of Income and Expenses in "multiple steps" format. Bill Balance Net sales 20,853 Cost of goods sold 9,024 Selling and administrative expenses 6,772 Other income 1,776 Other expenses 1,972 Income taxes on continuing operations 350 Income from discontinued operations 500 Income taxes on discontinued operations 163