The following information is available for Shawson Ltd. for calendar 2018: Purchases 590,000 Income tax expense ..................................................... 4,500 Interest expense .......................................................... 15,000 Ending inventory .......................................................... 45,000 Interest revenue ........................................................... 19,000 Beginning Inventory ..................................................... 50,000 Operating expenses ..................................................... 97,000 Sales ............................................................................ $720,000 Sales returns and allowances ...................................... 22,000 Instructions Use the above information to prepare a multiple-step income statement for the year ended December 31, 2018.