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The adjusted trial balance of Pacific Scientific Corporation on December 31,2024 , the end of the company's fiscal year, contained the following income statement items
The adjusted trial balance of Pacific Scientific Corporation on December 31,2024 , the end of the company's fiscal year, contained the following income statement items ( $ in millions): sales revenue, $2,135; cost of goods sold, $1,310; selling expense, $150; general and administrative expense, $140; interest expense, $65; and gain on sale of investments, $90. Income tax expense has not yet been recorded. The income tax rate is 25%. Prepare a multiple-step income statement. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10)
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