Income Statement For the Year Ending December 31, Year 2 Sales revenue $ 320,000 Cost of goods sold (148,000) Gross profit 172,000 Operating Expenses Salaries expense $ 89.000 Operating expenses 82.000 Uncollectible accounts expense 8,100 130.100 Operating income 32,900 NonOperating Items Interest revenue 5.400 Net income S 38,300