Please help me prepare the net income statement. Thank you.

Net Income Statement 1. A company starts out by raising $7,000,000 from its equity partners and borrowing $7,000,000 at 5% indefinitely from its creditors. 30% of the total funds raised was used for working capital (other current assets besides cash). The company bought machinery for $6,000,000 which had a depreciable life of 10 years (straight line). For 2020, the company generate sales of $6,000,000 and the cost of sales is 50% of that. Make the first portion of the income statement (Revenue, Cost, and Gross Margin) We are going to assume SG&A is 0 so what you found in 3 is EBITDA (Earnings Before Interest Tax Depreciation and Amortization). That being said, take out depreciation to get ERIT(Earnings Before Interest Tax also known as Operating Income). Take out interest and the tax rate is 21%. Find Net Income