The following information is available for Jain Corp. for the year ended December 31, 2012:
|
Other revenues and gains |
$12,700 |
Net sales |
$552,000 |
|
Other expenses and losses |
13,300 |
Operating expenses |
186,000 |
|
Cost of goods sold |
156,000 |
Prepare a multiple-step income statement for Jain Corp. The company has a tax rate of 30%.