The ledger of Pottery Supplies Inc. contains the following information for operations for the year ended September 30, 2020. (Click the icon to view the accounting records.) Required 1. Prepare a multiple-step income statement for the year ended September 30, 2020. Omit earnings per share. 2. Was 2020 a good year or a bad year for Pottery Supplies Inc.? Explain your answer in terms of the outlook for 2021. very up mo. Income Statement For the Year Ended September 30, 2020 Sales revenue Cost of goods sold Gross margin Operating expenses Operating income Income tax expense Income from continuing operations Other income (loss) Net income Net income Sales revenue Gain on discontinued operations Operating expenses (excluding income tax). Income tax expense, operating income Other loss..... Cost of goods sold. Income tax expense, gain on discontinued operations. 360,000 18,500 69,000 9,100 25,000 240,000 6,475