Income statement: The Oakland Mills Company has just disclosed the following financial information in its annual report:

sales of $$1\mathrm{.}45$ million, cost of goods sold of $$812,500,$ depreciation

expenses of $$175,000,$ and interest expenses of $$89,575.$ Assume that

the firm has an average tax rate of $29$ percent. What is the company$$s

net income? Set up an income statement to answer the question.