Question: (Preparing an income statement) Prepare an income statement and a common-sized income statement from the following information Sales $525,583 Cost of goods sold 199,302 General

 (Preparing an income statement) Prepare an income statement and a common-sized
income statement from the following information Sales $525,583 Cost of goods sold

(Preparing an income statement) Prepare an income statement and a common-sized income statement from the following information Sales $525,583 Cost of goods sold 199,302 General and administrative expense 61,265 Depreciation expense 8,347 Interest expense 11,403 Income taxes 98,106 Income Statement $ Gross profits ta $ $ Total operating expenses Operating income (EBIT) Earnings before taxes $ Net income $

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