1 H33 A B Assignment 1.5 Exercises D F G H J K L M 2 9 3456100 Problem 3: Building an Income Sheet 10 Points The following financial data has been provided for Twanger Building Supply, Inc.: Cost of goods sold Cash $ 983,095 141,860 7 Depreciation 277,530 8 Interest expense 60,335 Selling & Administrative Expenses 193,340 10 Accounts payable 100,715 11 Net fixed assets 1,224,405 12 Sales 1,928,620 13 Accounts receivable 100,520 14 Short-term Notes payable 114,275 15 Long-term debt 618,035 16 Inventory 193,530 17 Intangible Assets 223,450 18 19 20 21 Wages Payable Common Stock Additional Paid-In Capital Retained Earnings 21,780 1,750 291,680 735,530 22 Tax Rate (average) 30% 23 24 All data is for the year ended Dec 31st, 2019. 25 Complete the full Income Statement for Twanger Building Supply. What is the Net Income for this firm? 26 27 Create your Original Solution Below - Be sure to show all calculations and clearly indicate answers. 20 29 30 31