The following balances were taken from the books of Parnevik Corp. on December 31, 2012. Interest revenue $88,800 Accumulated depreciation-building 28,000 Cash 51,000 Notes receivable 155,000 Sales 1,332,400 Selling expenses 202,500 Accounts receivable 150,000 Accounts payable 170,000 Prepaid insurance 20,000 Bonds payable 100,000 Sales returns and allowances 153,800 Administrative and general expenses 97,300 Allowance for doubtful accounts 7,000 Accrued liabilities 32,000 Sales discounts 48,600 Interest expense 73,300 Land 100,000 Notes payable 100,000 Equipment 200,000 Loss from earthquake damage Building 140,000 (extraordinary item) 138,000 Cost of goods sold 625,700 Common stock 500,000 Accumulated depreciation-equipment 40,000 Retained earnings 21,000 Assume the total effective tax rate on all items is 34%. Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year