The following is information for Sunland Co$.$ for the month of January $2027.$

Cost of goods sold

Freight$-$out

Insurance expense

Salaries and wages expense

Income tax expense

$$199,280$

$6,580$

$11,280$

$56,400$

$4,700$

Rent expense

Sales discounts

Sales returns and allowances

Sales revenue

$$30,080$

$7,520$

$18,800$

$347,800$

Prepare an income statement using the multi$-$step format.

SUNLAND CO$.$

Irxune Mate ment