The following incorrect income statement was prepared by the accountant of the Axel Corporation: $720,000 45,000 92,000 857,000 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 $390,000 Selling expense 72,000 Administrative expense 92,000 Interest expense 29,000 Restructuring costs 68,000 Income tax expense 51,500 Total expenses and losses Net Income Earnings per share 702,500 $154,500 $ 1.55 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 Next Saved For the Year Ended December 31, 2021 0 oss profit perating expenses 0 Total operating expenses merating income her income (expense): 0 0 0 Total other income net come before income taxes 0 t income