Boeing	Transactions for the Year Ended 31 December 2020
Transaction	Amount (£)
Sales revenue	360,000
Cost of goods sold	210,000
Salaries and wages	50,000
Rent expense	25,000
Depreciation expense	17,000
Utilities expense	11,000
Insurance expense	8,500

Requirements:

1. Prepare an income statement for Boeing for the year ended 31 December 2020.
2. Calculate the operating profit.
3. Determine the net profit after all expenses.