The following incorrect income statement was prepared by the accountant of the Axel Corporation: $660,000 39,000 86,000 785,000 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 $360,000 Selling expense 66,000 Administrative expense 86,000 Interest expense 23,000 Restructuring costs 62,000 Income tax expense 47,000 Total expenses and losses Net Income Earnings per share 644,000 $141,000 $ 1.41 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 Gross profit Operating expenses: 0 Total operating expenses Operating income Other income (expense) 0 Total other income, not Income before income taxes 0 Net Income Earnings per share