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Ruth Company has the following data for the year ended December 31, 2020: Net sales $300,000 Discontinued operations gain 20,000 Cost of goods sold 160,000

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Ruth Company has the following data for the year ended December 31, 2020: Net sales $300,000 Discontinued operations gain 20,000 Cost of goods sold 160,000 Interest revenue 3,000 Selling and administrative expenses 40,000 Loss on sale of plant assets 5,000 Shares of capital stock outstanding, 10,000 Tax rate of 20% on all items Instructions Prepare a multiple-step income statement in good form in accordance with US GAAP for Ruth Company for the year ended December 31, 2020 (Note: you may not use all rows/columns of the provided tables to prepare financial statement)

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