Exercise 5-8 (Part Level submission) In its income statement for the year ended December 31, 2017, Cullumber Company reported the following condensed data $790,500 Loss on disposal of plant Salaries and wages 141,950 assets expenses 3,757,000 Cost of goods sold 1,677,900 Sales revenue Interest expense 120,700 Income tax expense 42,500 Interest revenue 110,500 Sales discounts 272,000 527,000 Utilities expense Depreciation expense 187,000