Prepare an income statement for Nike, Inc. for the year ended December 31, 2023.

Item	Amount ($)
Sales Revenue	950,000
Cost of Goods Sold	600,000
Salaries Expense	130,000
Rent Expense	45,000
Utilities Expense	25,000
Depreciation Expense	35,000
Interest Expense	20,000
Income Tax Expense	30,000

Question:

Using the given data, prepare the income statement for Nike, Inc. for the year ended December 31, 2023. Calculate the Gross Profit, Total Operating Expenses, Operating Income, and Net Income.