Exercise 5-8 (Part Level Submission) In its income statement for the year ended December 31, 2017, Cullumber Company reported the following condensed data Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense $534,750 1,135,050 81,650 74,750 356,500 Loss on disposal of plant assets Sales revenue Income tax expense Sales discounts Utilities expense $ 96,025 2,541,500 28,750 184,000 126,500 CULLUMBER COMPANY Income Statement For the Year Ended December 31, 2017 v Sales Revenue 2541500 Less Sales Discounts 184000 Net Sales 2357500 Cost of Goods Sold 1135050 Gross Profit 1222450 Operating Expenses Salaries and Wages Expense 534750 Depreciation Expense 356500 Utilities Expense 126500 Total Operating Expenses 1017750 to search tel Operating Expenses 1017750 come from Operations 204700 Other Expenses and Losses Loss on Disposal of Plant Assets 96025 Income Before Income Taxes Income Tax Expense inse 28750 Net Income / (Loss)