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Section B: The income statement. Prepare an income statement and answer 3 calculated questions (5 points each, total 15 points). Question 1: Calculate Zero Corporation's

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Section B: The income statement. Prepare an income statement and answer 3 calculated questions (5 points each, total 15 points). Question 1: Calculate Zero Corporation's Net Income using the following information, (5 points): Salaries and Wages: $25,000 Rent Expense: $18,000 Advertising Expense: $32,000 Cost of repairs resulting from flooding: $45,000 Sales: $320,000 Cost of Goods Sold: $90,000 Question 2: Calculate Zero Corporation's Operating Income using the above information, (5 points). Question 3: Calculate Zero Corporation's Gross Profit using the above information, (5 points)

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