A company has the following transactions for the year:

• Sales revenue: $1,500,000
• Cost of goods sold: $900,000
• Administrative expenses: $120,000
• Selling expenses: $180,000
• Interest expense: $45,000
• Tax rate: 30%

Requirements:

(a) Prepare the income statement. (b) Calculate the gross profit margin. (c) Determine the operating profit margin. (d) Compute the net profit margin.