Prepare an income statement for Samsung Electronics for the year ended December 31, 2023.

Item	Amount ($)
Sales Revenue	1,300,000
Cost of Goods Sold	780,000
Salaries Expense	200,000
Rent Expense	60,000
Utilities Expense	40,000
Depreciation Expense	60,000
Interest Expense	30,000
Income Tax Expense	50,000

Question:

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