1. Prepare an income statement for fiscal year 2018 using the data below. Calculate gross profit and use a corporate tax rate of 20% to calculate net profit. Salaried Labor: Hourly Labor: Permanent Materials: Supplies: Subcontractor 1: Subcontractor 2: Subcontractor 3: Loan Payments (all): Office Space Rental: Insurance (all): Depreciation of Assets: Project 1 Revenue: Project 2 Revenue: Project 3 Revenue: Project 4 Revenue: Project 5 Revenue: $2,400,000 $4,100,000 $3,500,000 $800,000 $950,000 $3,000,000 $1,580,000 $980,000 $440,000 $270,000 $980,000 $300,000 $4,100,000 $6,700,000 $9,220,000 $1,050,000