Exercise 4: Yummy Restaurant - Income Statement Below you will find items for the income statement for Yummy Restaurant for the year ended December 31, 2018. Construct an income statement for this business. Assume a tax rate of 19%. Yummy Restaurant Net sales $375,000 Net purchases $145,000 Beginning inventory $270,000 Gross profit $120,000 Selling expenses $75,000 General and administrative expenses $23,000 Ending inventory $160,000 Depreciation expense Use information from exercise 3 Exercise 4: Yummy Restaurant - Income Statement Below you will find items for the income statement for Yummy Restaurant for the year ended December 31, 2018. Construct an income statement for this business. Assume a tax rate of 19%. Yummy Restaurant Net sales $375,000 Net purchases $145,000 Beginning inventory $270,000 Gross profit $120,000 Selling expenses $75,000 General and administrative expenses $23,000 Ending inventory $160,000 Depreciation expense Use information from exercise 3