The following pretax amounts pertain to the Tree Hill Corp. for the year ended December 31, 2020. DIXON TICONDEROGA Sales Operating expenses Extraordinary gain Interest expense Cost of goods sold Gain on sale of equipment Gain on disposal of business segment Cumulative effect of change in accounting principle $525,000 80,000 40,000 5,000 375,000 12,000 40,000 (24,000) The effective corporate tax rate is 30%. Prepare a multi-step income statement for the year ending December 31, 2020. (20pts)