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Exercise 5: Prepare the Income Statement of o company with the following information from year 2020: . Gross sales, during the year, reached an amount of 2.002 million . The company's trade I policy gives a discount of 3% to its Type A customers. Type A customers are those whose annual purchases from the company exceed 120 million . Type A customers account for 40% of sales. Assume Total sales = Gross sales - Discount The purchases of raw materials amounted to 962 million . The workforce consists of 7.800 cmployees. The average salary is 30.000 per year, and average spending on Social Security payments is 30% of salary. Payment for other operating expenses amounted to 457 million . In recent years, the company has invested a total of 1.200 million E in fixed assets whose average lifespan is 10 years (linear depreciation and no residual value). As regards current liabilities of the company, the company obtained an international loan of 225 million in the year 2018. The interest for this loan is 6% along the whole year. The main repayment of loan will be made in 2025 (this is, the 100% of the principal will be paid-back in 2025). The corporate tax rate applied is 30%. The company has agreed to a dividend of 50%. Assume do change in stocks of raw materials or finished products during the above period