a. produce the income statement for the year.

b. produce the operating cash flow for the year.

Income Statement Accounts for the Year Ending 2017 Account Balance Cost of goods sold $343,000 Interest expense $85,000 Taxes $52,800 Revenue $742,000 Selling, general, and administrative expenses $63,000 Depreciation $119,000 Income Statement Year Ending December 31, 2017 | EBIT | Taxable income | Net income