The following balances were taken from the books of Whispering Corp. on December 31, 2017.

Interest revenue		$87,300		Accumulated depreciationequipment		$41,300
Cash		52,300		Accumulated depreciationbuildings		29,300
Sales revenue		1,381,300		Notes receivable		156,300
Accounts receivable		151,300		Selling expenses		195,300
Prepaid insurance		21,300		Accounts payable		171,300
Sales returns and allowances		151,300		Bonds payable		101,300
Allowance for doubtful accounts		8,300		Administrative and general expenses		98,300
Sales discounts		46,300		Accrued liabilities		33,300
Land		101,300		Interest expense		61,300
Equipment		201,300		Notes payable		101,300
Buildings		141,300		Loss from earthquake damage		151,300
Cost of goods sold		622,300		Common stock		501,300
				Retained earnings		22,300

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.