1. Information for Sunrise Enterprises for the fiscal year ending October 31, 2024:

• Sales: ₹800,000
• Cost of Goods Sold: ₹500,000
• Administrative Expenses: ₹60,000
• Selling Expenses: ₹45,000
• Interest Expense: ₹25,000
• Income Tax: ₹28,000

Requirements:

1. Calculate the gross profit.
2. Determine the operating profit.
3. Compute the net profit before tax.
4. Calculate the net profit after tax.
5. Prepare the income statement using a paragraph format.