The following selected accounts from the Monty Corp's general ledger are presented below for the year ended December 31, 2022: Advertising expense $ 52,000 Interest revenue $ 30,000 Common stock 247,000 Inventory 64,000 Cost of goods sold 1,082,000 Rent revenue 24,000 Depreciation expense 122.000 Retained earnings 532,000 Dividends 147,000 Salaries and wages expense 672.000 Freight-out 22,000 Sales discounts 8.200 Income tax expense 67,000 Sales returns and allowances 41.000 Insurance expense 15,000 Sales revenue 2,397,000 Interest expense 67,000 Monty Corp. Income Statement For the Year Ended December 31, 2022 Sales Sales Revenue 2397000 Less $ 8200 1 Sales Discounts Sales Returns and Allowances 41000 i 2397000 Net Sales 1082000 Cost of Goods Sold Gross Profit 1265800 Operating Expenses 672000 i Salaries and Wages Expense Advertising Expense 52000 i Freight-Out 22000 i Insurance Expense 15000 i 122000 i Depreciation Expense Question 5 of 6 4.67/ 55 Depreciation Expense 122000 i Total Operating Expenses 883000 Income From Operations 382800 Other Revenues and Gains Rent Revenue 24000 Interest Revenue 30000 Other Expenses and Losses Interest Expense 67000 i Income before Income Taxes 369800 Income Tax Expense 67000 i Net Income/(Loss) 302,800