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, $2,106; cost of goods sold, $1,240; selling expense, $126; general and administrative expense, $105; interest expense, $40; and gain on sale of investments, $45. 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). PACIFIC SCIENTIFIC CORPORATION Income Statement For the Year Ended December 31, 2024 Sales revenue Cost of goods sold Gross profit Operating expenses: Selling expense General and administrative expense 4 Total operating expenses $ 126 105 $ 2,106 1,240 866 231 ok Sales revenue Cost of goods sold Gross profit Operating expenses: Selling expense PACIFIC SCIENTIFIC CORPORATION Income Statement For the Year Ended December 31, 2024 126 t General and administrative expense 105 nces Total operating expenses Operating income Other income (expense): Gain on sale of investments Interest expense Total other income, net Income before income taxes Income tax expense Net income + 45 (40) $ 2,106 1,240 866 231 635 635 160 480