1 list K (Related to Checkpoint 4.3) (Profitability analysis) Last year the P. M. Postems Corporation had sales of $428,000, with a cost of goods sold of $110.000. The firm's operating expensas were $127,000, and its increase in retained earnings was $86,200. There are currently 23.000 shares of common stock outstanding, the fem pays a $1.65 dividend per share, and the firm has no interest bearing debt Assuming the firm's earings are taxed at 35 percent, construct the firm's income statement b. Compute the firm's operating profit margin. 2 a. Assuming the firm's earnings are taxed at 35%, construct the firm's income statement Complete the income statement below: (Round to the nearest dolar) Income Statement Revenues Cost of Goods Sold $ Gross Profit $ Operating Exnss Net Operating Income $ Interest Expense Eamings before Taxes $ Income Taxes Net Income