Create Income Statement with the Following Data?:

- Retained Income from Previous Year: $1,500,000

-Gross Sales: $5,000,000 with Refunds of $250,000

-Off-Site Investment Interest and Income : $150,000

-Loan Payment: $250,000

-Total Tax: $300,000

-Cost of Goods Sold: $2,500,000

-Equipment Depreciation: $250,000

-Sales Bonuses and Expenses: $150,000

-Admin Cost: $500,000

-Board of Directors voted for $3 per share dividend for 250,000 shares