Provided layout:

P5-5B An inexperienced accountant prepared this condensed income statement for Wright Company, a retail firm that has been in business for anumber of years Prepare a correct multiple-step income statement WRIGHT COMPANY Income Statement For the Year Ended December 31, 2014 (LO 4), AP Revenues Net sales Other revenues 5952,000 16,000 968,000 Cost of goods sold Gross profit Operating expenses 420,000 Selling expenses Administrative expenses 160,000 264.000 $156,000 Net earnings As an experienced, knowledgeable accountant, you review the statement and determine the following facts