The Sunland Mills Company has just disclosed the following financial information in its annual report: sales of $1.47 million, cost of goods sold of $818,000, depreciation expenses of $180,500, and interest expenses of $94,900. Assume that the firm has an average tax rate of 29 percent. What is the company's net income? Set up an income statement to answer the question. (Round answers to 2 decimal places, e.g. 15.25.)

The Sunland Milis Company has just disclosed the following financial information in its annual report: sales of $1.47 million, cost of goods sold of $818,000, depreciation expenses of $180,500, and interest expenses of $94,900. Assume that the firm has an average tax rate of 29 perctnt. What is the company's net income? Set up an income statement to answer the question. (Round answers to 2 decimal places, e.g. 15.25.)