In its income statement for the year ended December 31, 2017, Metlock, Inc. reported the following condensed data.

Operating expenses

$ 754,000

Interest revenue

$ 34,320

Cost of goods sold

1,306,240

Loss on disposal of plant assets

17,680

Interest expense

72,800

Net sales

2,288,000

Income tax expense

48,880

Other comprehensive income (net of $1,250 tax)

8,630

Prepare an income statement.