Required information [The following information applies to the questions displayed below.] Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format) BIG TOMMY CORPORATION Profit and Loss December 31 Credit $460,10e Debit Net Sales Cost of Goods Sold Salaries and Wages Expense Office Expenses Travel Expenses Income Tax Expense Net Profit Totals $303,00e 64,000 20,500 1,000 21,480 50,120 $460,100 $46e, 180 Required 1. Prepare a properly formatted multistep income statement that would be used for external reporting purposes. BIG TOMMY CORPORATION Income Statement For the Year Ended December 31