Prepare an income statement using the information given below. Make sure to identify gross profit operating income, and net income. Inventories $50,000 Cost of Goods Sold $200,000 Administrative Expenses $40.000 Accumulated Depreciation $150,000 Sales $500,000 Depreciation Expense $15.000 $100,000 Selling Expenses Common Stock Dividends $8,000 Interest Expense $5.000 Corporate Tax Rate 40%