Stellar Corporation had net sales of $2,414,200 and interest revenue of $35,800 during 2017. Expenses for 2017 were cost of goods sold $1,459,300, administrative expenses $221,600, selling expenses $284,400, and interest expense $54,200. Stellars tax rate is 30%. The corporation had 103,500 shares of common stock authorized and 74,490 shares issued and outstanding during 2017. Prepare a condensed multiple-step income statement for Stellar Corporation.

STELLAR CORPORATION Income Statement December 31, 2017 2414200 Net Sales 35800 Interest Revenue |X Total Revenues 2450000 Expenses x