$($Related to Checkpoint $4\mathrm{.}3)($Profitability analysis$)$ Last year the P$.$ M$.$ Postem Corporation had sales of $$426,000,$ with a cost of goods sold of $$114,000.$ The firm's operating expenses were $$127,000,$ and its increase in retained earnings was $$87,700.$ There are currently $21,000$ shares of common stock outstanding, the firm pays a $$1\mathrm{.}55$ dividend per share, and the firm has no interest$-$bearing debt.

a$.$ Assuming the firm's earnings are taxed at $35$ percent, construct the firm's income statement.

b$.$ Compute the firm's operating profit margin.

a$.$ Assuming the firm's earnings are taxed at $35\%,$ construct the firm's income statement.

Complete the income statement below: $($Round to the nearest dollar.$)$

$\backslash$table$[[$Income Statement,$],[$Revenues$,],[$Cost of Goods Sold,$],[$Gross Profit,$],[$Operating Expenses,$],[$Net Operating Income,$],[$Interest Expense,$],[$Earnings before Taxes,$],[$Income Taxes,$],[$Net Income,$]]$