ZZZ Company sells beds and linens. There are 100,000 shares of capital stock outstanding. The annual fiscal period ends on December 31. The following condensed trial balance was taken from the general ledger on December 31, 2015:

Debit Credit

Cash $ 42,000

Accounts receivable 18,000

Inventory 65,000

Operational assets 50,000

Accumulated depreciation $ 21,000

Liabilities 30,000

Common stock 90,000

Retained earnings, January 1, 2015 11,600

Sales revenue 182,000

Sales returns and allowances 7,000

Cost of goods sold 98,000

Selling expense 17,000

Administrative expense 18,000

Interest expense 2,000

Extraordinary loss 8,000

Income tax expense (30% tax rate) 9,600

Totals $334,600 $334,600

Required: Prepare a multiple-step income statement. Hint: the extraordinary item needs to be shown below the income from operations and shown net of taxes. There is an example in the book but you might want to search outside of your textbook to find another example. please show every step to finding your answers