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The owner of a bicycle repair shop forecasts revenues of $212,000 a year. Variable costs will be $63,000, and rental costs for the shop are

The owner of a bicycle repair shop forecasts revenues of $212,000 a year. Variable costs will be $63,000, and rental costs for the shop are $43,000 a year. Depreciation on the repair tools will be $23,000. Prepare an income statement for the shop based on these estimates. The tax rate is 40%. (Input all amounts as positive values.)

INCOME STATEMENT
(Click to select)DepreciationVariable costsPretax profitRental costsRevenue $
Rental costs
(Click to select)Pretax profitRevenueVariable costsDepreciation
(Click to select)RevenueDepreciationPretax profitVariable costs
(Click to select)DepreciationRevenuePretax profitVariable costsRental costs
(Click to select)RevenueRental costsTaxesPretax profitDepreciation
(Click to select)Net incomeNet loss $

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