The following information is available for Norman Corporation for the year ended December 31,2022: sales revenue $700,000, other revenues and gains $92,000, operating expenses $110,000, cost of goods sold $465,000, other expenses and losses $32,000, and preferred stock dividends $30,000. The company's tax rate was 20%, and it had 50,000 common shares outstanding during the entire year. NORMAN CORPORATION Income Statement For the Year Ended December 31, 2022 Sales Revenue Cost of Goods Sold Gross Profit/ (Loss) Operating Expenses Income from Operations 125000 Other Revenues and Gains Other Expenses and Losses Income before Income Taxes Income Tax Expense Net Income / (Loss)