II. Calculation (40\%) 1. Following are the operating data for a marketing firm for this vear. (12%) Revenues Supplies expense Salaries expense 95,000120,00010,00016,000$420,000 Rent expense Administrative expense Income taxes (25\% of income before income tax) Determine the following for this year: (1) Income before income tax : 420,000 (2) Income tax expense =920.00025%= (3) Net income =179.000 (4) Earnings per share (EPS), assuming there are 44,750 shares of stock outstanding. =4Incuns1