For the ended Dec. 31, 2021, Canton Noodle Company had general and administrative expenses of 10%of sales (or 20% of cost sold). Selling expenses equal 20% of sales. Beginning inventories were 100000 $, and purchases amounted to 55% of sales. Income before income tax of 40% was 80000 $.20 Required: Prepare income statement for the year ended Dec. 31, 2021 in amount and percentages