required income statement for the year and rhe percentage of income to sales before tax

5. Income statement; profit percentage. The Shelikoff Company submits the following informa- tion on December 31, 19--; Sales for the year ...mmmmmmmmmmmmmmmmmmmmmmmmmmm $314,000 Inventories at the beginning of the year: Finished goods mmmmmmmmm IsLISH 5,900 Work in process ...mammas 4.600 Materials ......... 3,800 Purchases of materials for the year ...mmm!!! 140,000 Direct Labor ...mmmmmmmmm 67,350 Factory overhead: 50% of labor cost Inventories at the end of the year: Finished go005 ....mmmmmmmmm 9,270 Work in process ... 6,200 Materials .....man 4,300 bthor expenses for the year: Marketing expenses ....must Administrative expenses ..aims 23. 115 17.650 Required: (1) An income statement for the year ended December 31, 19--. (2) The percentage of income to sales, before income tax