Tisdale Incorporated reports the following amount in its December 31, 2021, income statement.

Sales revenue	$	350,000		Income tax expense	$	40,000
Non-operating revenue		120,000		Cost of goods sold		200,000
Selling expenses		70,000		Administrative expenses		50,000
General expenses		60,000

Exercise 6-3A Part 1

Required:

1. Prepare a multiple-step income statement. (Losses should be indicated by a minus sign.)

2. Tisdale Incorporated does not appear to have much profit-generating potential.