Given the following income statement for GG Inc. and the adjustments to be made, rebuild its income statement.
GG Inc. should use the straight-line depreciation method, which incurred only $1,500 in depreciation.
GG Inc. forgot to book $4,000 in salary paid during the year.
GG Inc. should use the new corporate tax rate, which is 30percent.

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GG Inc. Income Statement for Y2012 (unadjusted) Revenue Cost of sales Rent Depreciation Interest Income before taxes Taxes paid Net income $90,000 10,000 10,000 2,500 2,000 65,500 26,200 39,300