If you can explain why you do everything, that would be great, thanks!

Use the data below to do the following: -Indicate next to each item if it is income, expense or other -create an income statement. For full credit, the income statement should have subtotals for Gross Profit, Operating profit and net profit. This data is also available as a spreadsheet on the ICON home page under the module for the week the homework is due. It will likely be easier to use the spreadsheet and learning excel will be helpful in your career. March $ ta 1,200 Payroll and Accounting Marketing Cost of Service $ 4,500 30,000 Depreciation Expense 2,083 Income Taxes 4,319 Interest Expense $ 1,875 Owners' Salary $ Transportation Expense Rent $ Wages $ 5,000 7,500 1,200 10,000 90,000 5,000 1,350 Net Revenue $ $ Sales Staff Salary Utilities Expense $