A set of financial statements for Butterfly Company follows:

$($Click to view the financial statements.$)$

Requirement

Fill in the missing amounts $($indicated with question marks$).$

Requirement $1.$ Fill in the missing amounts. Begin by completing the income statement.

Sales.................... $ $,725,000$

Cost of goods sold

Gross profit on sales $.$

$405,000$

Administrative expenses

Operating income

Interest expense

Income tax expense

Net income

Data table

Butterfly Company

Balance Sheet

At December $31,2012$