Income Statement Strain Manufacturing produces specialized exercise equipment for professional athletes. At the end of 2000, the head of marketing for Strain was given a printout with the following amounts:

The head of marketing for Strain does not have a background in finance or accounting and needs to have an income statement prepared. You are asked to prepare an income statement for Strain Manufacturing for 2000.

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Sales of exercise equipment Gain on sale of investments Cost of products sold $530,000 20,000 300,000 Salaries and wages 70,000 Shipping costs 45,000 Property tax expense 23,000 Depreciation expense 20,000 Interest expense 18,000 Income tax expense 24,000