The following selected accounts from the Concord Corporation's general ledger are presented below for the year ended December 31, 2022: Advertising expense Common stock Cost of goods sold Depreciation expense Dividends Freight-out Income tax expense Insurance expense Interest expense $ 45,000 240,000 1,075,000 115,000 140,000 15,000 60,000 15,000 60,000 Interest revenue Inventory Rent revenue Retained earnings Salaries and wages expense Sales discounts Sales returns and allowances Sales revenue $ 23,000 57,000 24,000 525,000 665,000 7,700 34,000 2,390,000 Prepare a multiple-step income statement. Concord Corporation Income Statement For the Year Ended December 31, 2022 Sales For the Year Ended December 31, 2022 Sales $ Sales Revenue $ 2.390.000 Less Sales Discounts $ 7.700 i Sales Returns and Allowances 34.000 i 41700 i Net Sales Cost of Goods Sold 1,075,000 i Gross Profit Operating Expenses Advertising Expense 45,000 i Depreciation Expense 115.000 i Freight-Out 15,000 i Insurance Expense 15.000 1 Salaries and Wages Expense 665,000 Freight-Out 15.000 i Insurance Expense 15,000 i Salaries and Wages Expense 665.000 i Total Operating Expenses Operating Expenses Other Revenues and Gains Interest Revenue 23,000 Rent Revenue 24,000 Other Expenses and Losses II Interest Expense Income before Income Taxes Income Tax Expense Net Income /(Loss)