• Prepare a financial statement for a small business using the following data:

  Category	Amount ($)
  Revenue	100,000
  Cost of Goods Sold	40,000
  Operating Expenses	25,000
  Interest Expense	5,000
  Tax Expense	10,000
  Net Income	?

  Your requirements are as follows:

  • Calculate the gross profit and operating income.
  • Determine the net income after accounting for interest and taxes.
  • Prepare an income statement using the provided data.
  • Present the income statement in a table format.
  • Provide a paragraph explaining the significance of each financial metric.
  • Include a bullet list of key insights from the income statement.