SPINX, INC. Income Statement For the Year Ended December 31, CURRENT YEAR Net sales Costs and expenses: $ 4,395,253 (2,821,455) Cost of goods sold Operating expenses (1,004,396) Interest revenue 15,797 Earnings before income tax $ 585,199 Income tax expense (204,820) Net earnings $ Earnings per share $ 380,379 1.70 Comparative balance sheets report average total assets for the year of $2,575,000 and average total equity of $1,917,000 (dollar amounts in thousands, except earnings per share). a. Prepare an income statement for the year in a multiple-step format. b-1. Compute the gross profit rate. b-2. Express the net income as a percentage of net sales. b-3. Compute the return on assets. b-4. Compute the return on equity for the year. Complete this question by entering your answers in the tabs below. Reg A Req B1 Req B2 Req B3 Req B4 Prepare an income statement for the year in a multiple-step format. (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign. Round your Earnings per share to 2 decimal places.) SPINX, INC. Income Statement For the Year Ended December 31, Current Year Non-operating items: Earnings per share