2. Use this information to prepare a financial statement for company ABC Co for the 12 months ended 31st December 2019 Distribution expenses $ 8,000 Salaries and wages related to selling product $ 16,000 Advertisements and promotions for Product $5,000 Salaries and wages for administrative staff $ 7,500 Office supplies expenses $ 1500 administrative utility expenses $ 3000 Depreciation on office equipment $ 750 Interest expense $ 1500 Cost of direct material purchase for product Alpha $ 165,000 Cost of stock at the beginning of the period Alpha $ 15,000 Cost of stock at the end of the period Alpha $ 20,000 Revenue from sale of Product Alpha $ 312,500 Based on the above information prepare a basic financial statement and identify the following. i. Gross Profit (3) ii. Total operating expenses (Show separately your selling distribution expenses and administrative expenses) (3) 1 Page 1 iii. Operating income (3) iv. Net income (Assume your business is taxed at 4%) (3) v. Correct Income statement with clear separation of items (4)