Solve the problems below 1 Benni's Fish Co. had gross sales of $756,300 with returns of $285. The inventory on January 1 was $92,370, and the cost of goods purchased during the year was $465,920. Freight costs during the year were $1205. Total inventory on December 31 was $82,350. Salaries and wages totaled $84,900, advertising was $2800, rent was $42,500, utilities were $18,950, taxes on inventory and payroll were $4500, and miscellaneous expenses totaled $18,400. Income taxes were $25,450. Complete the following income statement. [15.1] Benni's Fish Co INCOME STATEMENT Year ending December 31, 2018 Gross Sales Returns Net Sales Inventory January 1 Cost of Goods Purchased Freight Total Cost of Goods Purchased Total goods available for Sale Inventory December 31 Cost of Goods Sold Gross Profits Expenses Salaries and Wages Rent Advertising Utilities Taxes on Inventory and Payroll Miscellaneous Expenses Total Expenses Net Income Before Tax Income Taxes Net Income after Tax