The following incorrect income statement was prepared by the accountant of the Axel Corporation. $750,000 51,000 98,00 929,000 AXEL CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Sales revenue Interest revenue Gain on sale of investments Total revenues and gains Expenses and losses Cost of goods sold $420,000 Selling expense 70,000 Administrative expense 98.000 Interest expense 35,000 Restructuring costs 74,000 Income tax expense 56,000 Total expenses and losses Net Income Earnings per Share 7 761,000 $168,000 $ 1.65 Required: Prepare a multiple-step income statement for 2021 applying generally accepted accounting principles. The income tax rate is 25% (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.) AXEL CORPORATION Income Statement For the Year Ended December 31, 2021 0 Gross profit Operating expenses. 0 0 Total operating expenses Operating income Other income (expense): 0 Total other income, net Income before income taxes 0 $ Net income Earnings per share 128,400 1.28 $