Required Information [The following Information applies to the questions displayed below.) A company reports the following amount In its December 31, Year 1, Income statement. Sales revenue Non-operating revenue Selling expenses General expenses $315,000 113,089 63,00 53, eee Income tax expense Cost of goods sold Administrative expenses $ 33,00 193, eee 43,00 . The company does not appear to have much profit-generating potential. True False