Intel Corporation's financial information for the year ending December 31, 2023, is as follows:

Item	Amount
Beginning Inventory	$150,000
Purchases	$700,000
Ending Inventory	$80,000
Sales Revenue	$1000,000
Operating Expenses	$300,000
Interest Expense	$45,000
	$70,000

Prepare the cost of goods sold section and the income statement for Intel Corporation for the year ending December 31, 2023.