(Related to Checkpoint 4.3) (Profitability analysis)Last year the P. M. Postem Corporation had sales of $443,000, with a cost of goods sold of $114,000. The firm's operating expenses were $126,000, and its increase in retained earnings was $97,630. There are currently 22,000 shares of common stock outstanding, the firm pays a $1.56 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.

a.Assuming the firm's earnings are taxed at 35%, construct the firm's income statement.

Complete the income statement below:

Income Statement
Revenues	$
Cost of Goods Sold
Gross Profit	$
Operating Expenses
Net Operating Income	$
Interest Expense
Earnings before Taxes	$
Income Taxes
Net Income	$