Pro Forma Income Statement Above Average Ladies' Wear For First 12 Months of Operations Sales $220,000 Cost of goods sold $143,000 Gross profit $ 77,000 Wages $ 24,000 Rent $ 20,000 Utilities 3,600 Insurance 1,500 Depreciation 1,600 Advertising 2,000 Miscellaneous 6,000 Total operating expenses $ 58,700 Net profit before interest and taxes $ 18,300 Given the pro forma income of the  statement above.