The CFO for Fin Tackle Company, a manufacturer of high-end fishing supplies, has provided you the following information from his company's accounting records. From the information presented, prepare a properly formatted, multi-step Income Statement (be sure to show intermediate profit lines - Gross Profit, EBITDA, NOI, EBIT, EBT and NI - as necessary). Per share presentation of income data is not being requested. Balance sheet account information is as of the close of business for December 31, 2015 unless otherwise indicated. Income statement information is applicable for the entire calendar year 2015 unless otherwise indicated. The company's income tax rate is 35%. The company did not purchase or dispose of any depreciable long-term assets. (Watch out - you have more information than is needed to complete this problem). Sales/Revenues $600,000 Property Tax Expense 70,000 Cash 10,000 Marketing Expenses 30,000 Warranty Liability 15,000 Prepaid Insurance 10,000 General and Administrative Expenses 35,000 Purchases of Goods for sale 75,000 Inventory available for sale as of 1/1/2015 120,000 Inventory available for sale as of 12/31/2015 95,000 Accum. Depreciation on Plant, Property, Equipment (as of 1/1/15) 120,000 Accum. Depreciation on Plant, Property, Equipment (as of 12/31/15) 160,000 Plant, Property and Equipment 500,000 Long-term debt 50,000 Dividends declared and paid to shareholders by Fin 40,000 Dividend Income 42,000 Interest Income 3,000 Interest Expense 12,000 Net Accounts Receivable 15,000 Retained Earnings 60,000 Accounts Payable 15,000 Bad Debt Expense 5,000