Question 3 The following information is available for Cullumber Corporation for the year ended December 31, 2020: sales revenue 5775,000, other revenues and gains $89,500, operating expenses $109,000, cost of goods sold $468,000, other expenses and losses $31,000, and preferred stock dividends $35,525. The company's tax rate was 35%, and it had 64,000 shares outstanding during the entire year. (a) Your answer is partially correct. Try again. Prepare a corporate income statement. (List other revenues before other expenses.) CULLUMBER CORPORATION Income Statement For the Year Ended December 31, 2020 Sales Revenue 775000 Cost of Goods Sold -468000 Gross Profit/ (Loss) 307000 Operating Expenses 109000 Income from Operations 198000 Other Revenues and Gains 89500 Other Expenses and Losses 31000 Income before Income Taxes 318500 Income Tax Expense 111475 Net Income / (Loss) 207025