For the year ended December 31, 2023, LMN Ltd. provides the following information:

Item	Amount ($)
Sales Revenue	500,000
Cost of Goods Sold	250,000
Operating Expenses	150,000
Interest Expense	10,000
Tax Rate	30%

Required:

• Prepare an income statement for LMN Ltd. for the year ended December 31, 2023.
• Calculate the gross profit margin percentage.
• Determine the net income after taxes.