Selling & administrative expenses 20,200 Loss on sale of plant assets 11,700 Gross profit 90,500 Interest expense 8,000 Income tax 10,000 Rent revenue 10,200          If this information was used to prepare an income statement, Income from Operations should be:   Select one: a. 68,800 b. 70,300 c. 78,800 d. 110,700 e. 58,600

Income Statement Format The following information from Buchanan Company’s current operations is available:  Administrative expenses $73,000 Cost of goods sold 470,000 Sales revenue 772,000 Selling expenses 87,000 Interest expense 10,000 Loss from operations of discontinued segment 60,000 Gain on disposal of discontinued segment 40,000 Income taxes:   Amount applicable to ordinary operations 40,000 Reduction applicable to loss from operations of discontinued segment 14,000 Amount applicable to gain on disposal of discontinued segment 8,000 Requireda. Prepare a multiple-step income statement. (Disregard earnings per share.)b. Prepare a single-step income statement. (Disregard earnings per share.)Note: Do not enter any answers as negative numbers unless it's indicated with an asterisk *. BUCHANAN COMPANYMultiple-Step Income StatementFor Year Ended Sales Revenue                 Selling Expenses     Administrative Expenses     Operating Income…

Use the following data to create a complete income statement. All accounts must be correctly labeled and arranged in the proper order. Sales $675,000 Cost of good sold $405,000 $75,000 $20,000 $154,000 General and Administrative expenses Depreciation expense Bonds Interest Rate Tax Rate 3% 25%

What is the income from operations and the net income?