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Financial information for Twilight Corp. for the fiscal year ending August 31, 2024: Sales: 650,000 Cost of Goods Sold: 390,000 Administrative Expenses: 40,000 Selling Expenses:

Financial information for Twilight Corp. for the fiscal year ending August 31, 2024:

  • Sales: ₹650,000
  • Cost of Goods Sold: ₹390,000
  • Administrative Expenses: ₹40,000
  • Selling Expenses: ₹35,000
  • Interest Expense: ₹15,000
  • Income Tax: ₹17,000

Requirements:

  1. Compute the gross profit.
  2. Calculate the operating profit.
  3. Determine the net profit before tax.
  4. Compute the net profit after tax.
Prepare the income statement in a structured table format

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