Answer:
             Wayman Corporation
         Multiple-step income statement
Sales                                $425,000
Less: Cost of goods sold                $135,000
Gross Profit                           $290,000
Operating Expenses
Salary Expenses          $45,000
Utility Expenses           $55,000
Advertising Expenses      $35,000
Total Operating Expenses               ($135,000)
Net Operating Income                  $155,000
Other Income and Expenses
Interest expense                        $25,000
Net Income before Tax                  $130,000
Income tax expense                     $55,000
Net Income                            $75,000
