In your post, (with a minimum of 300 words)

• Complete the Income Statement based on your last name and attach it to your post.
• Explain whether the company on the Income Statement earned a profit in the last year.
• Identify other names for an income statement.
• Explain these phrases: bottom line, net earnings, net income, net profit.
• Pose one question related to the income statement, either in general or specifically related to the company on the Income Statement you completed

Done Crunch Chip Company Income Sta... 9:19 Your name: Click or tap here to enter text. Directions: Using the information below, complete Table 1, the Crunch Chip Company Income Statement for the year ending December 31. To complete Table 1, Fill in the expense categories (words) for each item in the correct locations. Fill in the amounts (numbers) for each expense or profit category. o Be sure to enter commas as needed in the numbers. o For each entry labeled "profit," you will need to do the math (subtraction) to determine the amount to enter in the field. o To determine the amount of taxes, multiply pretax profit by the tax rate. Be sure to fill in each field on the Income Statement table. Example (completed for you): Revenues: $12,500,000 Crunch Chip Company Income Statement Expense Categories and Amounts to fill in the Income Statement: Cost of Goods Sold: $7,600,000 Marketing: $2,000,000 Depreciation: $100,000 Selling, General, & Administrative (SG&A): $1,300,000 Interest Costs: $500,000 Tax Rate: 25% [GO TO NEXT PAGE] Table 1 Crunch Chip Company Income Statement For the year ending December 31, 20XX Revenues Click or tap here to enter expense category. Gross Profit Click or tap here to enter expense category. Click or tap here to enter expense category. Click or tap here to enter expense category. Operating Profit Taxes Net Profit Click or tap here to enter expense category. Pretax Profit $12,500,000 Click or tap here to enter expense amount. $Click or tap here to enter amount of gross profit. Click or tap here to enter expense amount. Click or tap here to enter expense amount. Click or tap here to enter expense amount. $Click or tap here to enter amount of operating profit. Click or tap here to enter expense amount. $Click or tap here to enter amount of pretax profit. 96 Click or tap here to enter expense amount. $Click or tap here to enter amount of net profit.