The lodger of Industrial 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 yoar ended September 30, 2020 Omit eamings per share. 2. Was 2020 a good year or a bad year for Industrial Supplies Inc ? Explain your answer in terms of the outlook for 2021 Requirement 1. Prepare a multiple step income statement for the year ended September 30, 2020. Omit earnings per share. (Use parentheses or a minus sign for any losses Industrial Supplies Inc. Income Statement For the Year Ended September 30, 2020 Choose from any list or enter any number in the input fields and then continue to the next question 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 Industrial Supplies Inc. ? Explain your answer in terms of the outlook for 2021. Net income Requirement 2. Was 2020 a good year or a bad year for Industrial Supplies Inc. ? Explain your answer in terms of the outlook for 2021 It appears that 2020 was a year. Overall profits will likely in 2021, since the current net income includes a Most investors ignore the for the purpose of predicting the company's future income Choose from any list or enter any number in the input fields and then continue to the next question multiple step income statement for the year ended September 30 2020. Omit earnings per share, for 0 Accounting records . X $ 385,000 20,000 1,500 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 22,400 25,500 220,000 6,400 ne nt 2. 021 of the Print Done mat 24 he inclu Most investors ignore the for the purpose of predicting th future in me