Tisdale Incorporated reports the following amounts in its December 31, 2024, income statement. Sales revenue $310,000 Income tax expense $32,000 Nonoperating revenue 112,000 Cost of goods sold 192,000 Selling expenses 62,000 Administrative expenses 42,000 General expenses 52,000 Required: 1. Prepare a multiple-step income statement. 2. Indicate whether the statement "Tisdale Incorporated does not appear to have much profit-generating potential." is true or false