Wayman Corporation reports the following amounts in its December 31, 2024, income statement. Sales revenue Interest expense Salaries expense Utilities expense $453,000 29,000 Income tax expense Cost of goods sold 49,000 Advertising expense 59,000 $59,000 139,000 39,000 Required: Prepare a multiple-step income statement. Answer is complete but not entirely correct. WAYMAN CORPORATION Multiple-Step Income Statement For the Year Ended December 31, 2024 Sales revenue Cost of goods sold Gross profit $ 453,000 139,000 $ 314,000 Utilities expense 59,000 Salaries expense 49,000 Advertising expense 39,000 Total operating expenses 147,000 Operating income 167,000 Interest expense 29,000 Income before income taxes Income tax expense Net income 138,000 59,000 $ 306,000