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The Ivanhoe Company has disclosed the following financial information in its annual reports for the period ending March 31, 2017: sales of $1.70 million, cost of goods sold of $813,400, depreciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has an average tax rate of 35 percent. What is the company's net income? Set up an income statement to answer the question. (Round answers to 2 decimal places, e.g. 15.25) Ivanhoe Company Income Statement For the period ended on March 31, 2017 v Amount Revenues Net Income / (Loss) Taxes Interest Depreciation Cost of Goods Sold Earnings Before Interest and Taxes Earnings Before Interest, Taxes, Depreciation, and Amortization Earnings Before Taxes