Ballentine Manufacturing produces and sells lawnmowers through a national dealership network. They purchase raw materials from a variety of suppliers, and all manufacturing and assembly work is performed at their plant outside of Kansas City, Missouri. They recorded these costs for the year ending December 31, 2017. Construct an income statement for Ballentine Manufacturing to reflect their net income for 2017.

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Administrative and selling expenses Cost of goods sold Rent on corporate headquarters Marketing and advertising Sales revenue Straight-line depreciation on office equipment $ 425,000 1,400,000 75,000 400,000 2,700,000 100,000