Q3: Al-Fao Company has an idea of establishing a new project, the cost of its construction and its installation (25,000) and it is expected that it will generate profits of (20,000,000). The cost of the goods sold from the project is half of the project's profits. The company bears fixed selling costs, 500,000 administrative rents, 5,000 rents, 5,000. This project is from It is estimated that after five years of its useful life it will turn into rubble at a value of (2,25,000) noting that the tax rate is 25%, and the interest on payment notes and bonds is 200,000 each It is required to prepare an income statement for the FAO company on 30/12/2018 10:10