Income Statement Year Ended September 30, 2024 Net Sales Revenue Cost of Goods Sold Gross Profit $ 230,000 96,000 134,000 Operating Expenses: Salaries Expense 51,000 28,000 Depreciation Expense-Plant Assets 79,000 Total Operating Expenses Net Income Before Income Taxes 55,000 11,550 Income Tax Expense $ 43,450 Net Income