The general ledger of the Fly-Buy-Nite (FBN) Engineering Company contained the following account balances (partial listing) at the end of June, 2004. Construct an income statement. What is the net income before taxes and the net profit (or loss) after taxes? FBN has a tax rate of 27%.

                                                            Amount

                                                         (Thousands)

Administrative expenses                   $2,750

Subcontracted services                     18,000 

Development expenses                          900

Interest expense                                      200

Sales revenue                                      30,000           

Selling expenses                                   4,500