Based on the information in the table below, prepare an income statement for Windswept Woodworks, Incorporated for year 2. Assume that the company pays a flat tax rate of 21% on its taxable income. (Round your answers to 2 decimal places.)

Windswept Woodworks, Incorporated
Input Data
(millions of dollars)
	Year 2	Year 1
Accounts payable	612		544
Accounts receivable	1,456		990
Accumulated depreciation	6,922		6,792
Cash & equivalents	400		288
Common stock	1,360		1,280
Cost of goods sold	1,580		n.a.
Depreciation expense	?		n.a.
Common stock dividends paid	?		n.a.
Interest expense	220		n.a.
Inventory	1,190		1,186
Addition to retained earnings	602		n.a.
Long-term debt	988		896
Notes payable	310		460
Gross plant & equipment	10,580		10,320
Retained earnings	3,238		2,636
Sales	3,098		n.a.
Other current liabilities	196		176
Tax rate	21%		n.a.
Market price per share year end	$ 26.80		$ 24.50
Number of shares outstanding	500	million	500	million