PART 2 Develop an Income Statement/Profit and Loss Statement on a sheet of paper or MS Excel. Develop a Profit and Loss Statement using the following entries below: . Income tax of 30% . Depreciation Php 30,000 . Office Supplies Php 50,000 . Utilities Expense Php 45,000 . Sales Php 7,600,000 . COGS Php 2,200,000 . Furniture and Fixture Php 45,000 . Salaries and Wages Php 550,000 . Permits and Licenses Php 33,000 . Prepare the Report good for 5 Years