7:54 Expert Q&A 4G all 98%1 Splish Brothers Inc Income statement November 30,2022 Sales revenue $710,000 Less: Sales return and -$7,300 allowance Net sales $702,700 Cost of goods sold $513,000 $189,700 Gross profit Operating expense Freight out $5,400 Depreciation expense $11,000 Insurance expense $7,300 Property tax expense $2,500 Rent expense $15,400 salaries and wages ex $91,900 pense Sales commission ex $11,000 pense Utilities expense $8,200 Total operating expen $152,700 se Operating income $37,000 Other revenue (gains) Interest revenue $11,000 Other expense (losse s) Interest expense -$6,300 $4,700 Net income $41,700 III