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Prepare a multiple step income statement for the year 2011, assume 30% tax rate on all items (some information below is irrelevant to the income statement)Presented below is information related to Farr CompanyRetained earnings, December 31, 2010

Prepare a multiple step income statement for the year 2011, assume 30% tax rate on all items (some information below is irrelevant to the income statement)
Presented below is information related to Farr Company
Retained earnings, December 31, 2010 650000
Sales 1400000
Selling and administrative expense 240000
Hurricane loss (pre-tax) on plant (extraordinary item) 290000
Cash dividends declared on common stock 33600
Cost of goods sold 780000
Gain resulting from computation error,depreciation charge in2009(pre-tax) 520000
Interest revenue 120000
Loss on sale equipment 100000
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