ABC Inc. provided the following financial data for the fiscal year 2023:

Item	Amount
Sales	$700,000
Cost of Goods Sold	$420,000
Administrative Costs	$90,000
Marketing Costs	$80,000
Interest	$25,000
Taxes	$35,000

Requirements:

1. Prepare an income statement.
2. Calculate the gross profit margin.
3. Determine the operating profit margin.
4. Compute the earnings before interest and taxes (EBIT).
5. Analyze the impact of a 15% increase in marketing costs on the net profit.