The information below relates to the operations of Wildhorse Corporation, a private company following ASPE, for the year ended December 31, 2023: Cost of goods sold $329,000 Interest expense 2,090 Sales returns and allowances 9,110 Accounts payable 120,278 Sales discounts 3,772 Depreciation expense 284,480 Sales revenue 982,236 Salaries and wages expense 163,500 Prepaid expenses 3,350 Rent expense 39,100 Loss from fire 8,538 Rental revenue 22,506 Additional information. . The effective tax rate is 25%. Depreciation expense: 60% administrative expense and 40% selling expense Salaries and wages expense: 35% administration expense and 65% selling expense Rent expense: 75% administration expense and 25% selling expense Prepare a multiple-step income statement in good form by function. (List other revenues and gains before other expenses and losses. Enter selling expenses before administrative expenses. Round answers to O decimal places, e.g. 5,275.) Wildhorse Corporation Income Statement For the Year Ended December 31, 2023 Sales Revenues Sales Less Sales Discounts Sales Returns and Allowances - Net Sales Revenues Cost of Goods Sold Gross Profit/(Loss) Onarstinn Evnances > 3772 9110 98223 1288: 99511 32900 65323