Income Statement Presented below is information related to Webster Company ($000 omitted).
Administrative expenses
Officer’s salaries................... $4,900
Depreciation of office furniture and equipment..... 3,960
Cost of goods sold................. 63,570
Rental revenue................... 17,230
Selling expenses
Transportation-out................ 2,690
Sales commissions................ 7,980
Depreciation of sales equipment............ 6,480
Sales..................... 98,500
Income tax..................... 7,580
Interest expenses................. 1,860
Instructions
Prepare an income statement for the year 2010. Ordinary shares outstanding for 2010 total 40,550 (000 omitted).