Instructions The income statement of Booker T Industries Inc. for the current year ended June 30 is as follows: $509,000.00 291,000.00 $218,000.00 1 Sales 2 Cost of goods sold Gross profit 4 Operating expenses: 39,210.00 105,290.00 Depreciation expense 6Other operating expenses 7 Total operating expenses 8Income before income tax 9 Income tax expense 0Net income 44,500.00 73,500.00 20,880.00 $52,620.00