Microsoft Corporation has provided the following information for its fiscal year ending June 30, 2023:

• Sales revenue: $20,000,000
• Cost of goods sold: $12,000,000
• Selling expenses: $3,000,000
• Administrative expenses: $2,000,000
• Other income: $500,000
• Interest expense: $400,000
• Income tax expense: $800,000

Prepare an income statement for Microsoft Corporation and calculate the gross margin and net income for the fiscal year ending June 30, 2023.