5. Prepare an income statement using your calculations. Show gross profit and net inc need the following information: Sales were $1,375,000.00 Administrative and sales expenses $225,000.00 Interest on debt is $97,000.00 Tax paid at 30% 6. At the end of the period, XYZcom has the following account balances: Cash 550,000 Accounts receivable 117,000 " Inventory 84,000 Prepaid expenses 4,800 Equipment 245,000 Depreciation 49,000 Accounts payable 125,000 Loans payable 361,300 Net Profit 465,500 Prepare a trial balance using these amounts. Fione vour accaccor