The following incorrect income statement was prepared by the accountant of the Axel Corporation: $ 730,000 46,000 93,000 869,000 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 $395,000 Selling expense 73,000 Administrative expense 93,000 Interest expense 30,000 Restructuring costs 69,000 Income tax expense 52, 250 Total expenses and losses Net Income 712,250 $156,750 Earnings per share $ 1.57 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