Sales revenue AMOS CORPORATION Income Statement Year Ended December 31, 2020 Dividend revenue Gain on recovery of earthquake loss (unusual) Unrealized holding gain on FV-OCI equity investments $850,000 32,300 27,300 5,000 914,600 Less: Selling expenses $100,100 Cost of goods sold 510,000 Advertising expense 13,700 Loss on inventory due to decline in net realizable value 34,000 Loss on discontinued operations 48,600 Administrative expenses 73,400 779,800 Income before income tax 134,800 Income tax expense 33,700 Net income $101,100 Amos had 100,000 common shares outstanding during the year and has an effective tax rate of 25%. Gains/losses on FV-OCI equity investments are not recycled through net income. Required: Indicate the deficiencies in the income statement as it currently is. Assume that the corporation prepares a single-step income statement in good form as of December 31, 2020.