The trial balance of Lakewood Inc. included the following accounts as of December 31, 2021. 3 Debits credits 2,150,000 87.000 57,000 5 points Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expense Loss on inventory write-down Interest expense General and administrative expense 1,380,000 255,000 37.000 47,000 157,000 01:46:47 Lakewood Inc. had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. eBook Required: Prepare a multiple-step income statement with earnings per share disclosure.(Amounts to be deducted should be indicated with a minus sign. Round Earnings per share answer to 2 decimal places.) S 2,150.000 11.300.000 LAKEWOOD INC. Income Statement For the Year Ended December 31, 2021 Sales revenue Cost of goods sold Gross profit Operating expenses: $ Selling expense (255 000 General and administrative expense (157 000) 87.000 Interest expense (325.000) (325,000) Total operating expenses Operating income Other income (expense). Interest expense Loss on inventory write-down (47 000) 37 000) Total other income, not (84,000) 409.000) Income before income taxes Interest expense General and administrative expense 47,000 157,000 3 Lakewood Inc. had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. 5 points Required: Prepare a multiple-step income statement with earnings per share disclosure.(Amounts to be deducted should be indicated with a minus sign. Round Earnings per share answer to 2 decimal places.) 01:46:38 eBook LAKEWOOD INC. Income Statem For the Year Ended December 31, Sales revenue $ 2,150,000 Cost of goods sold (1.380,000) Gross profit Operating expenses: Selling expense S (255.000) General and administrative expense (157,000) Interest expense 87,000 (325,000) (325.000) Total operating expenses Operating income Other income (expense): Interest expense Loss on inventory write-down 147.000) (37,000) Total other income, nel Income before income taxes Income tax expense Net incorre (loss) Earnings per share (84.000) (409,000) (102 250) 306.750 3.07 S S