Instructions The following income statement contains errors. Curbstone Company Income Statement For the Year Ended August 31, 2045 1 Sales $8,595,000.00 2 Cost of merchandise sold 6,110,000.00 3 Income from operations $2,485,000.00 4 Expenses: 5 Selling expenses $800,000.00 6 Administrative expenses 575,000.00 7 Delivery expense 425,000.00 8 Total expenses 1,800,000.00 9 $685,000.00 10 Other expense: Instructions Curbstone Company Income Statement For the Year Ended August 31, 2045 1 Sales $8,595,000.00 2 Cost of merchandise sold 6,110,000.00 3 Income from operations $2,485,000.00 4 Expenses: 5 Selling expenses $800,000.00 6 Administrative expenses 575,000.00 7 Delivery expense 425,000.00 8 Total expenses 1,800,000.00 9 $685,000.00 10 Other expense: 11 Interest revenue 45,000.00 12 Gross profit $640,000.00