Question: Question 31 (20 points) Prepare an income statement using the following information: Cost of Goods Sold margin 30% Gross profit $14,700 Tax rate 35% Operating

Question 31 (20 points) Prepare an income statement using the following information: Cost of Goods Sold margin 30% Gross profit $14,700 Tax rate 35% Operating Margin 25% Income Statement (Complete the profit labels) Net Sales 19110 Cost of Goods Sold -440 Oyuars Profit 14700 Operating Expenses 36ts oneratory Profit 11025 Income Tax Expense 3888,75 Met Profit 7 166.25 Keep cents. Do not round to whole dollars

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