Exercise 5-8 (Part Level Submission) In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data. Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expenses $511,00 Loss on disposal of plant 91,850 2,431,000 27,500 176,000 121,000 assets 1,085,700 Sales revenue 78,100 71,500 Income tax expense Sales discounts 341,000 Utilities expense