2. The following is the December 31, 2019 balance sheet for the Epics Corporation. Assets Liabilities Cash $ 70,000 Accounts Payable $ 100,000 Accounts Receivable 150,000 Notes Payable 120,000 Inventory 280.000 Bonds Payable Total Current Assets $ 500,000 Total Liabilities 300,000 $520,000 Plant and Equipment $1,250,000 Equity Less: Accum. Deprec 250,000 Common Stock 300,000 Net plant and Equipment $1,000,000 Paid In Capital 200,000 Retained Earnings 480.000 Total Assets $1,500,000 Total Equity $ 980,000 Total Liab. & Equity $1,500,000 Sales for 2019 were $2,000,000, with the cost of goods sold being 55% of sales. Depreciation expense was 10% of the gross plant and equipment at the beginning of the year. Interest expense was 9% on the notes payable and 11% on the bonds payable. Selling and administrative expenses were $200,000 and the firm's tax rate is 40%. Prepare an income statement