Use the following information to answer the question: December 31 ($000) Stockholders equity 1,000

Accrued Expenses 400

Cost of Goods Sold 800

Accumulated Depreciation 200

General & Administrative Expenses 120

Tax Rate 40%

Interest expense 15

Sales revenue 2,000

Depreciation expense 200

Calculate net income. $519

$279

$459

$ 99