(Preparing an income statement) Prepare an income statement and a common-sized income statement from the following information. (Click on the following icon in order to copy its contents into a spreadsheet.) Sales Cost of goods sold General and administrative expense Depreciation expense Interest expense Income taxes $525,359 199.909 61,924 8.414 11,848 97 306 Complete the income statement below. (Round to the nearest dollar. NOTE: You may input expense accounts as negative values.) Income Statement Sales S Gross profits Cost of goods sold S S Total operating expenses Operating income (EBIT) $ Earnings before taxes S Net income $ Complete the common-sized income statement below. (Round to one decimal place. NOTE: You may input expense accounts as negative values S 525,359 % 199,909 $ 325,450 % S 61,924 % Common-sized Income Statement Sales Cost of goods sold Gross profits General and administrative expense Depreciation expense Total operating expenses Operating income (EBIT) Interest expense Earnings before taxes Income taxes 8,414 S 70,338 % $ 255,112 % 11,848 $ % 243,264 97,306 Net income $ 145,958 %