Pfizer Inc.	Transactions for the Year Ended 31 December 2020
Transaction	Amount (£)
Sales revenue	310,000
Cost of goods sold	190,000
Salaries and wages	45,000
Rent expense	22,000
Depreciation expense	13,000
Utilities expense	10,000
Insurance expense	8,000

Requirements:

1. Prepare an income statement for Pfizer Inc. for the year ended 31 December 2020.
2. Calculate the operating profit.
3. Determine the net profit after all expenses.