Pacific Rim Publications, Inc., specializes in reference books that keep abreast of political and economic issues in the Pacific Rim countries. The results of the companys operations during the prior year are given in the following table. All units produced during the year were sold. (Ignore income taxes.)

Sales revenue	$	1,650,000
Manufacturing costs:
Fixed		461,000
Variable		857,000
Selling costs:
Fixed		33,000
Variable		63,000
Administrative costs:
Fixed		73,000
Variable		28,000

Required: 1-a. Prepare a traditional income statement for the company. PACIFIC RIM PUBLICATIONS, INGC Income Statement For the Year Ended December 31, 20XX Sales Cost of goods sold Gross margin Operating expenses 0 Administrative expenses Net income 0