5. Gross sales revenue is $420,000; sales discounts are 10%; the gross profit ratio is 40%; operating expenses are $50,000; interest expenses are $10,000; the income tax rate is 30%. Complete the income statement below:
6. Net Sales Revenue:
7. Cost of Goods Sold:
8. Gross Profit :
9. Operating Expenses:
10. Operating Income (EBIT):
11. Interest Expense:
12. Pretax Income:
13. Income taxes:

Net Income: