Answer the three following questions showing work

1. Cipriano's operates luxury restaurants around the world. In 2019 it reported sales of

$48,750,000. It also reported the following expenses:

- $7,425,000 in selling, general and administrative expenses

- $28,450,000 in costs of goods sold

- $890,000 in interest expense

- $1,400,000 in lease expense

- $2,100,000 in depreciation expense

Build an income statement and calculate net profit after taxes assuming a 34% tax rate.

Please clearly label all line items (including gross profit, operating profit, and net profit

before taxes).