INCOME STATEMENT for the year 2023 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense Insurance Expense Salaries Expense Other Operating Expenses Total Operating Expenses Operating Income Other Revenue and (Expenses): Gain on Sale of Land Interest Expense Total Other Revenue and Expenses Income Before Income Tax Income Tax Expense Net Income $14,400 12,000 42,600 11,100 4,800 (3,500) $238,000 153,000 85,000 80,100 4,900 1,300 6,200 1,860 $ 4,340