This is an income statement of ABC coop. in a single-step format.

ABC coop.

Income Statement

For the Year Ended December 31, 2015

Sales	2,950,000
Rent Income	13,560
	2,963,560
Costs and Expenses:
Cost of Sales	2,265,120
Selling and Administrative Expenses	322,000
Interest Expense	46,589.00
Loss on the Sale of Plant Assets	14,950.00
	2,756,000
Income Before Taxes	$ 258,000
Income Taxes	111,555.00
Net Income	$ 146,000
Earnings per Share	$ 7.30

Required:

1.	Construct multiple-step format income statement.
2.	Recalculate the net income, but with the unusual loss.
3.	Why do you think the unusual loss is not considered extraordinary or a disposal of a segment?