A ezto.mheducation.com W C C E 9 Genei - Al-powered r... Order 6314200 - Stu... Y Section: Course Admi... Snow McGraw-Hill Education.. t Assignment for Weeks 1 to 3 i Saved AB Ltd. Has collected the following data and asks you to prepare the Income statement: Cost of Merchandise Sold $218,450.00 Depreciation Expense $4,000 Income Tax Expense $10,000 Rent Expense $3,000 Interest Expense $1,000 Property Tax Expense $2,000 Rental Revenue $30,000 Salary Expense $85,000 lok Sales Revenue $312,792.00 Required 1: AB's net income for the year must have been: $ Required 2: AB's merchandising gross margin for the year must have been: $[ 20 F 2 F3 F4 F5 DD