Presented below is information related to Watt Company during the year ended December 31, 2018.

Sales Revenue $ 1,400,000

Cost of Goods Sold 830,000

Selling and Administrative Expenses 240,000

Gain on Sale of Office Building 120,000

Interest Expense 100,000

Tax Rate 15%

Required: Prepare Watt Company's income statement (statement of profit & loss) for the year ended December 31, 2018, in a good format.