Profitability analysis Last year the P.M. Postern Corporation had sales of $419,000, with a cost of goods sold of $111,000. The firm's operating expenses were $127,000, and its increase in retained earnings was $84,260. There are currently 21,000 shares of common stock outstanding , the firm pays a $1.59 dividend per share, and the firm has no interest - bearing debt

A. Assuming the firm's earning are taxed at 35 percent, construct the firm's income statement.

B. Compute the firm's operating profit margin.

A. Assuming the firm's are taxed at 35%, construct the firm's incone statement. Complete the income statement below

Revenues

Costs of Goods Sold

Gross Profit

Operating Expenses

Net Operating Income

Interest Expenses

Earnings before Taxes

Income Taxes

Net Income