Prepare the income statement of a computer manufacturer for the year ended December 31,2017 based on the following information:

Gross sales: 450,000, Sales returns: 15,000, Sales discounts: 4,500, Cost of goods sold: 320,000,

Salaries: 67,000, Advertising: 14,000, Supplies: 1,700, Insurance: 2,300, Rent: 10,000, Utilities: 23,000, interest expense 8,000, tax expense: 24,000