At the end of its third year ofoperations, the Sandifer Manufacturing Co. had $ 4 comma 540 comma 000

$4,540,000 inrevenues, $ 3 comma 391 comma 000

$3,391,000 in cost of goodssold, $ 440 comma 000

$440,000 in operating expenses which included depreciation expense of $ 157 comma 000

$157,000, and a tax liability equal to 34

34 percent of thefirm's taxable income. What is the net income of the firm for theyear?

Revenues =

$

Less:

Cost of Goods Sold =

$

Equals:

Gross Profit =

$

Less:

Operating Expenses =

$

Equals:

Net Operating Income =

$

Less:

Interest Expense =

$

0

Equals:

Earnings before Taxes =

$

Less:

Income Taxes =

$

Equals:

Net Income =

$