Sales Rent revenue Sales commission expense COGS Selling expenses Admin expenses Gain from sale of equipment Interest expense Discontinued operations Loss from disposal of assets for eastern division discontinued May 8th Income from operations of disc. Division Loss due to write down of inventory Loss due to mudslide in Malibu, CA Tax rate is 40% Prepare a multi step Income statement $15,000,000 $500,000 $55,000 $600,300 $3,500,000 $1,112,000 $50,000 $22,000 $900,000 $240,000 $88,000 $400,000