14. Income Statement Calculation 

Given the following financial data for PQR Company: Sales Revenue $180,000, Cost of Goods Sold $70,000, Operating Expenses $50,000, Interest Expense $8,000, and Income Tax Expense $12,000. Calculate the net income for PQR Company and present the calculation in a table format.

Item	Amount
Sales Revenue	$180,000
Cost of Goods Sold	($70,000)
Operating Expenses	($50,000)
Interest Expense	($8,000)
Income Tax Expense	($12,000)
________________________	_____________
Net Income	$40,000