Income statement ((LO1) Given the following information prepare in good form an income statement for the Dental Drilling Company.

Selling and adminstrative expense ................................................. $ 60,000

Depreciation expense .................................................................. 70,000

Sales ......................................................................................... 470,000

Interest Expense ......................................................................... 40,000

Cost of goods sold ....................................................................... 140,000

Taxes ......................................................................................... 45,000

Dental Drilling