General Ledger for ABC Company The following is the general ledger for ABC Company as of December 31, 20X1. Use this information to answer questions (1) through (4).

ABC Company
General Ledger
As of December 31, 20X1
	Amount
Assets
Cash	$29,400
Accounts receivable	8,100
Supplies	4,900
Prepaid rent	20,200
Equipment (net)	63,800
Liabilities
Accounts payable	$ 6,300
Salaries payable	4,000
Interest payable	1,100
Utilities payable	3,700
Bonds payable	38,400
Stockholders' equity
Common stock	$60,900
Retained earnings	0
Dividends	2,100
Revenues
Sales revenue	$54,200
Interest revenue	1,400
Expenses
Cost of goods sold	$15,100
Salaries expense	7,100
Rent expense	4,900
Supplies expense	1,300
Utilities expense	4,800
Depreciation expense	2,500
Interest expense	2,100
Income tax expense	3,700

1. What is the amount of gross profit to be reported on ABC Companys 12/31/X1 income statement?

$40,500 $14,100 $39,100 $17,800

2. What is the amount of operating income (EBIT) to be reported on ABC Companys 12/31/X1 income statement?

$36,100 $18,500 $14,800 $14,100

What is the amount of earnings before taxes (EBT) to be reported on ABC Companys 12/31/X1 income statement?

$15,000 $17,800 $12,000 $18,500

4. What is the amount of net income to be reported on ABC Companys 12/31/X1 income statement?

$17,800 $12,000 $14,100 $18,500