Requirement 1. Fill in the missing amounts. Begin by completing the income statement.

Dolphin Company
Income Statement
For the Year Ended December 31, 2012
Sales. . . . . . . . . . . . . . . . . .	$575,000
Cost of goods sold. . . . . . .
Gross profit on sales. . . . . .	295,000
Administrative expenses. .	68,000
Operating income. . . . . . . .
Interest expense. . . . . . . . .	10,000
Income tax expense. . . . .	65,100
Net income. . . . . . . . . . . . .