please see attachment

Income Statement Activity It may be helpful to recall that the income statement typically lists revenues and gains first, followed by expenses and losses. Revenues and gains minus expenses and losses equals "net income," which is how much the business earned in the time reflected by the income statement. Some companies use this "single step" approach, while others use a "multiple step" approach in the calculation of income or loss. Instructions: Using the following data from an income statement, calculate the net income. Revenue $2,000,000 Operating Expenses: Salaries ($1,000,000) Rent ($500,000) Amortization ($25,000) Depreciation ($75,000) Operating Income $400,000 Interest Expense ($50,000) Tax ($100,000)