The following information is available for Teal Mountain Corp. for the year ended December 31, 2022. Other revenues and gains $22,000 Other expenses and losses 3,600 Cost of goods sold 282,000 Sales discounts 3,600 Sales revenue 749,000 Operating expenses 213,000 Sales returns and allowances 9,400 Prepare a multiple-step income statement for Teal Mountain Corp. The company has a tax rate of 25%. TEAL MOUNTAIN CORP. Income Statement For the Year Ended December 31, 2022 - Sales Sales Revenue 749000 Less 4 : Sales Returns and Allowances $ 9400 i Sales Discounts 3600 i 13000 Net Sales 736000 Cost of Goods Sold 282000 i Gross Profit Operating Expenses 213000 i Income From Operations Other Revenues and Gains 22000 Other Expenses and Losses 4 3600 i Income before Income Taxes Income Tax Expense Net Income /(Loss)