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INCOME STATEMENT PROBLEM: Radu is a global manufacturer of automotive parts. The annual reporting period ends Dec. 31. Below find balances for all of its

INCOME STATEMENT PROBLEM: Radu is a global manufacturer of automotive parts. The annual reporting period ends Dec. 31. Below find balances for all of its income statement accounts in alphabetical order. All accounts have usual normal balances in USD.

Bad Debt Expense*

100

Cost of Goods Sold

33,000

Income Tax Expense

3,500

Interest Income and Other Non-operating Revenues

200

Other Operating Expenses

500

Sales Revenue

50,000

Selling and Administrative Expense

4,700

* Operating Expense

Prepare a statement of income and determine the following:

a. What is the dollar amount of the gross profit?

b. What is the dollar amount of the income from operations?

c. What is the dollar amount of the income before income tax?

d. What is the dollar amount of the net income?

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