RS Shipping Company				Tax Rate
COMPARITIVE INCOME STATEMENT				25%	0.25
for years ended 31 December				1/4%	0.0025
	2021	2022		3/4%	0.0075
Revenues and gains
*Sales revenue	$142,000.00	$142,355.00
*Interest revenue	$154,545.00	$154,931.36
*Investment Income	$54,700.00	$54,836.75
*Other revenue	$126,400.00	$126,716.00
Total revenue and gains	$477,645.00	$478,839.11
Expenses and losses
Cost of goods sold	$50,000.00	$49,625.00
Selling and admin administrative	$33,200.00	$32,951.00
Computer (operating)	$45,000.00	$44,662.50
Depreciation	$34,100.00	$33,844.25
Interest expense	$20,000.00	$19,850.00
Total expenses and losses	$182,300.00	$180,932.75
Income before taxes	$295,345.00	$297,906.36
Income tax expense (25%)	$73,836.25	$74,476.59
Net Income	$221,508.75	$223,429.77

Include, from your MS Excel assignment, a copy of the statement of income. In one sentence briefly describe the figure copied in this letter from the income statement.