Given the following information, prepare, in good form, an income statement for the Nix Corporation. Use the corporate tax rates in Chapter 2 (14.5%) to calculate taxes. Nix is a CCPC manufacturer in Vancouver.
Selling and administrative expense ........... ...$ 70,000
Amortization expense ............... . ...... ..............60,000
Sales ..................... . .......................................485,000
Interest expense................................................25,000
Cost of goods sold ................... ......................205,000