A B C D E F 9 10 1234567822222222222 19 20 11 You learned about Income Statements this week. Fill in the missing items below. Enter the answers in blue shaded cells Sales COGS Gross profit G&A expense Sales & Mkting expense Depreciation Operating income 575,000 $1,600,000 200,000 50,000 Interest 100,000 Income before taxes Income taxes (30%) Net income $700,000 21 Steps: 1: Calculate Sales 2. Calculate Income before taxes. Taxes are 30%, so you know the Net Income (Y) is a percent of "Income before taxes" (X) 3. Calculate the Income taxes figure 23 4. Calculate Operating Income 24 5. Calculate Sales & Mkting Exp 25 26 27 28 20 22222222