Sellall Department Stores reported the following amounts as of its December 31 year-end: Administrative Expenses, $2,700; Cost of Goods Sold, $24,300; Income Tax Expense, $3,230; Interest Expense, $1,600; Interest Revenue, $200; General Expenses, $2,900; Net Sales, $40,725; and Delivery (freight-out) Expense, $330. Prepare a multistep income statement for distribution to external financial statement users. SELLALL DEPARTMENT STORES Income Statement Net Sales Cost of Goods Sold Gross Profit For the Year Ended December 31 $ 40,725 24,300 Selling, General, and Administrative Expenses Income from Operations Insurance Expense Interest Revenue Income before Income Tax Expense Income Tax Expense Net Income 5,930