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Please solve this and explain how to calculate each. begin{tabular}{|l|l|} hline multicolumn{2}{|c|}{ Aryan Group Company Limited } multicolumn{2}{|c|}{ Income Statement } hline multicolumn{2}{|c|}{
Please solve this and explain how to calculate each.
\begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Aryan Group Company Limited } \\ \multicolumn{2}{|c|}{ Income Statement } \\ \hline \multicolumn{2}{|c|}{ For the Year Ended Decemeber 31,2020} \\ \hline Sales Revenue & $ \\ \hline Cost of Goods Sold & $ \\ \hline Gross Profit & $ \\ \hline Operating Expenses & $ \\ \hline Sales and Marketing Expenses & $ \\ \hline Research and Development Expenses & $ \\ \hline General Administrative Expenses & $ \\ \hline Operating Income (EBIT) & $,000,000 \\ \hline Interest Expenses & 3,000,000 \\ \hline Operating Income Before Tax (EBT) & $ \\ \hline Income Tax Expenses & $ \\ \hline Net Income & $ \\ \hline \end{tabular} Data to use for completing the Income Statement above Total units Sold =26,000 units Selling Price per unit =$1000 Cost of Goods sold per unit =$550 Money borrowed from banks =$10,000,000 Interest rate =4 percent per yer Income Tax expense =35% of EBT Research and Development Expenses =10% of Sales Revenue
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