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LMN Tech Inc.: Revenue: $3,500,000 Cost of Goods Sold (COGS): $2,000,000 Research and Development Expenses: $200,000 Selling, General, and Administrative Expenses (SG&A): $500,000 Interest Expense:

LMN Tech Inc.:

  • Revenue: $3,500,000
  • Cost of Goods Sold (COGS): $2,000,000
  • Research and Development Expenses: $200,000
  • Selling, General, and Administrative Expenses (SG&A): $500,000
  • Interest Expense: $50,000
  • Other Income: $25,000
  • Income Tax Expense: $150,000
Prepare the profit and loss account and calculate the net income for LMN Tech Inc.

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