! Required information [The following information applies to the questions displayed below.) Tisdale Incorporated reports the following amount in its December 31, 2018, income statement Sales revenue Non-operating revenue Selling expenses General expenses $285,000 Income tax expense 107,000 Cost of goods sold 57,000 Administrative expenses 47,000 $ 27,000 187,000 37,000 Required: 1. Prepare a multiple-step income statement. (Losses should be indicated by a minus sign.) TISDALE INCORPORATED Multiple-step Income Statement For the year ended December 31, 2018 Total operating expenses Operating income (loss) Required information (The following information applies to the questions displayed below.) Tisdale Incorporated reports the following amount in its December 31, 2018, income statement. Sales revenue Non-operating revenue Selling expenses General expenses $ 285,000 Income tax expense 107,000 Cost of goods sold 57,000 Administrative expenses 47,000 $ 27,000 187,000 37,000 2. Tisdale Incorporated does not appear to have much profit-generating potential. True O False 25