Question: Use the following information to construct an income statement. Sales ............... $1,230,000 Cost of goods sold Gross profit General and administrative expense Selling and marketing

Use the following information to construct an income statement.
Sales ............... $1,230,000
Cost of goods sold
Gross profit
General and administrative expense
Selling and marketing expense
Depreciation ............ $25,000
Operating income
Interest ..............$141,000
Income before taxes
Income taxes (27%) .......... $23,490
Net income .............. $63,510

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