Sales Revenue	$1,000,000	Interest Expense	$5,000
General and Administrative Expenses	$60,000	Gain on sale of equipment	$5,000
Research & Development Expense	$25,000	Cost of goods sold	$645,000
Interest Revenue	3,000	Selling expenses	$90,000
Loss on Sale of Investment	1,000	Total Dividends Declared	$30,000
Operating loss of Honduran division sold on February 1, 2022	25,000	Loss due to Hurricane Ida	$20,000
Preferred dividends declared	20,000	Gain on sale of Honduran division sold February 1, 2022	$5,000
Retained Earnings, 4-1-21	250,000	Foreign currency translation, loss	$6,500
Discovered on April 15, 2022 that depreciation was not recorded in fiscal year 2020	7,500	Weighted average common shares	$50,000

All amounts shown are before taxes:

Appropriate tax rate is 21%

Prepare a multi-step income statement: