Single-Step Income Statement Brandt Corporation had sales revenue of $400,000 for the current year. For the year, its cost of goods sold was $240,000, its operating expenses were $30,000, its interest revenue was $2,000, and its interest expense was $12,000. Brandt's income tax rate is 30%. Prepare a single-step income statement for Brandt Corporation for the current year. BRANDT CORPORATION Income Statement For Year Ended December 31, Current Year Revenues Sales revenue Interest revenue Total revenues Expenses Cost of goods sold Operating expenses Interest expense Income tax expense x Total expenses Net income x x