70. Income Statement Calculation 

Consider JKL Corporation's financial data: Sales Revenue $250,000, Cost of Goods Sold $100,000, Operating Expenses $80,000, Interest Expense $12,000, and Income Tax Expense $18,000. Calculate the net income for JKL Corporation and present the calculation in bullet points.

• Sales Revenue: $250,000
• Cost of Goods Sold: ($100,000)
• Operating Expenses: ($80,000)
• Interest Expense: ($12,000)
• Income Tax Expense: ($18,000)

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Net Income: $40,000