Exercise 11-2 In 2019, Larkspur, Inc. had net sales of $593,000 and cost of goods sold of $356,000. Operating expenses were $150,000, and interest expense was $7,000. The corporation's tax rate is 30%. The corporation declared preferred dividends of $12,500 in 2019, and its average common stockholders' equity during the year was $170,000 Prepare an income statement for Larkspur, Inc. Larkspur, Inc. Income Statement