Complete the Income Statement below based upon the account listings to the left!! \ Category 20X1 20X0 Variance % Horzontial % Vertical 'X1 % Vertical 'X0\ Operating Revenue \ Gross Sales Revenue $1,082,750 $1,147,600 $(64,850) -5.65% 207.29% 206.05%\ Less: Cost of Goods Sold $(560,692) $(591,000) $30,308 -5.13% -107.34% -106.11%\ Interest Income $280 $350 $(70) -20.00% 0.05% \ Net Revenue $522,338 $556,950 $(34,612) -6.21% 100.00% \ \ Operating Expenses \ Salaries & Wages $223,050 $263,000 $(39,950) -15.19% 42.70% 47.22%\ Fringe Benefits $49,071 $57,860 $(8,789) -15.19% 9.39% 10.39%\ Business Supplies $29,000 $24,300 $4,700 19.34% 5.55% 4.36%\ Professional Fees $9,500 $9,300 $200 2.15% 1.82% 1.67%\ Telephone/Internet Service $3,600 $3,323 $277 8.34% 0.69% 0.60%\ Interest Expense $14,200 $18,880 $(4,680) -24.79% 2.72% 3.39%\ General Insurance $9,100 $8,700 $400 4.60% 1.74% 1.56%\ Maintenance Expense $12,000 $10,800 $1,200 11.11% 2.30% 1.94%\ Depreciation Expense $15,100 $12,000 $3,100 25.83% 2.89% 2.15%\ Utilities $9,400 $9,150 $250 2.73% 1.80% 1.64%\ Property Taxes $5,317 $5,317 - 1.02% 0.95%\ Total Operating Expenses $379,338 $422,630 $(43,292) 10.24% 72.62% 75.87%\ Operating Income (Loss) $143,000 $134,320 $8,680 6.46% 27.38% 24.12%\ \ Other Non-Operating Income - $680 $680 -100.00% 0.00% 0.12%\ Total Non-Operating Income - $680 $680 -100.00% 0.00% 0.12%\ \ Net Income $143,000 $135,000 $8,000 5.93% 27.38% 24.24%