The following information is available for Quayle Company: 
Instructions
1. Use the above information to prepare a multiple-step income statement for the year ended December 31, 2014.
2. Compute the profit margin.
Definitions:
Bond Quoted
The price or interest rate at which a bond is currently being sold or bought in the market.
Dollar Amount
A numerical monetary value denoted in the currency of the United States.
Interest Earned
The total amount of interest received by a person or entity on investments over a specific period of time.
Convertible Bonds
Bonds issued by a company that can be exchanged by the holder for a predetermined number of the company's shares.
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