Question: please explain Exercise 4: Yummy Restaurant - Income Statement Below you will find items for the income statement for Yummy Restaurant for the year ended

please explain

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 Net purchases Beginning inventory Gross profit Selling expenses General and administrative expenses Ending inventory Depreciation expense $375,000 $145,000 $270,000 $120,000 $75,000 $23,000 $160,000 $10000

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