Rumana Cycling Company has sales of $12 million in 2003. Costs other then depreciation and amortization are expected to be 75% of sales, and dep. and amt. expenses are expected to be $1.5 million. All sales, revenue will be collected in cash, and costs others than depreciation and amortization must be paid for during the year. The Company's tax rate is 40%. Please construct an income statement and show the NI.

Please give the answer within 20 min.