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also: what is gross proft? operating expenses? noi? net expenses? 18. Construct an income statement from the following information: Sales $505,000, Salaries $100,oche, Rent $24,000,

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also: what is gross proft?
operating expenses?
noi?
net expenses?
18. Construct an income statement from the following information: Sales $505,000, Salaries $100,oche, Rent $24,000, Cost of goods sold $250,000, Utilities $25.000, Returns and allowances $5,000, Insurance $12,000, interest expense $5,450, taxes $25,000. What is the Gross Profit

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