To prepare 1 step income statement from the following information for the company ABC and to find NET INCOME.

Sales 575 000

Research and develompent 12 700

Interest exp. 14 522

Income taxes 80 000

Interest and dividends 22 400

Gain ?

Cost of the goods sold 353 712

General and administrative exp. 24 888

Company selling old car for 11 000 euro. Over the years, the cost of the car was depreciated on the company's accounting records (5 500) euro.