The following information should be used for questions: 2022 

Sales $400 Sale discount 40 Sale return 40 COGS 200 Interest expense 25 Dividends 10 Depreciation expense 45 Cash 70 Account receivables 80 Account payable 45 Unearned revenues 40 Inventory 30 Prepaid rent 30 Noted payable (more than one year) 100 Bank loan 240 Land 200 Building 300 Equipment 200 Tax rate 35% 

1. What are earnings before interest and taxes for 2022? 

2. Prepare income statement