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The incomplete income statement of Justin Corp. follows. Sales revenue $10,054,000 Cost of goods sold 7,024,000 Gross profit 3,030,000 Administrative and selling expenses $956,000 Profit-sharing

The incomplete income statement of Justin Corp. follows. Sales revenue $10,054,000 Cost of goods sold 7,024,000 Gross profit 3,030,000 Administrative and selling expenses $956,000 Profit-sharing bonus to employees ? ? Income before income taxes ? Income taxes ? Net income $? The employee profit-sharing plan requires that 10% of all profits remaining after the deduction of the bonus and income tax be distributed to the employees by the first day of the fourth month following each year end. Justin follows ASPE, the income tax rate is 50%, and the bonus is tax-deductible. Find the bonus and income tax

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