The following balances were taken from the books of Maria Conchita Alonzo Corp. on December 31, 2014.

Interest revenue		$88,450		Accumulated depreciationbuildings		$30,450
Cash		53,450		Notes receivable		157,450
Sales revenue		1,382,450		Selling expenses		196,450
Accounts receivable		152,450		Accounts payable		172,450
Prepaid insurance		22,450		Bonds payable		102,450
Sales returns and allowances		152,450		Administrative and general expenses		99,450
Allowance for doubtful accounts		9,450		Accrued liabilities		34,450
Sales discounts		47,450		Interest expense		62,450
Land		102,450		Notes payable		102,450
Equipment		202,450		Loss from earthquake damage (extraordinary item)		152,450
Buildings		142,450		Common stock		502,450
Cost of goods sold		623,450		Retained earnings		23,450
Accumulated depreciationequipment		42,450

Assume the total effective tax rate on all items is 34%. Prepare a multiple-step income statement; 100,100 shares of common stock were outstanding during the year.