78. Prepare a financial statement for a small business using the following data:

Category	Amount ($)
Revenue	260,000
Cost of Goods Sold	110,000
Operating Expenses	90,000
Interest Expense	18,000
Tax Expense	45,000
Net Income	?

Requirements:

• Calculate the gross profit and operating income.
• Determine the net income after accounting for interest and taxes.
• Prepare an income statement using the provided data.
• Present the income statement in a table format.
• Explain the significance of each financial metric.
• Provide key insights from the income statement.