$($Related to Checkpoint$4\mathrm{.}3)($Profitability analysis$)$Last year the P$.$ M$.$ Postem Corporation had sales of $ $407$ comma $000$

$,$

with a cost of goods sold of $ $110$ comma $000$

$.$

The$$ firm's operating expenses were $ $125$ comma $000$

$,$

and its increase in retained earnings was $ $72$ comma $680$

$.$

There are currently $24$ comma $000$

shares of common stock$$ outstanding, the firm pays a $ $1\mathrm{.}63$

dividend per$$ share, and the firm has no$$ interest$-$bearing debt.

a$.$Assuming the$$ firm's earnings are taxed at $35$

$$percent$,$ construct the$$ firm's income statement.

b$.$Compute the$$ firm's operating profit margin.

Question content area bottom

Part $1$

a$.$Assuming the$$ firm's earnings are taxed at $35\%$

$,$

construct the$$ firm's income statement.

Complete the income statement$$ below:$($Round to the nearest$$ dollar.$)$

Income Statement

Revenues

$

Cost of Goods Sold

Gross Profit

$

Operating Expenses

Net Operating Income

$

Interest Expense

Earnings before Taxes

$

Income Taxes

Net Income

$