Statement of Income
For the month ended January 31
	2018
Sales Revenue	$381,000
Cost of Goods Sold:	216,000
Gross Profit Margin	165,000
Operating expenses
Depreciation expense	308
Rent expense	1,250
Wages expense	27,200
Total operating expenses	28,758
Operating income
Other Revenues and Expenses
Service Revenue	19,167
Total Other Revenues and Expense	19,167
Income before tax	155,408
Income tax expense	34,000
Net Income (Loss):	121,408

Please prepare the closing entries