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(Working with an income statement and balance sheet)Prepare an income statement and a balance sheet from the scrambled list of items in the popupwindow, LOADING.... What is thefirm's net working capital and debtratio? Complete the income statement below.(Round to the nearest dollar. NOTE: You may input expense accounts as negativevalues.)

Income Statement
			$
Gross profits			$
	$
Total operating expenses			$
Operating income (EBIT)			$
Earnings before taxes			$
Net income			$
Number of common shares outstanding
Earnings per share	$
Dividends paid to stockholders	$
Dividends per share			$

Sales	$550,000
Accumulated depreciation	190,000
Cash	?
Cost of goods sold	320,000
Accounts receivable	73,000
Depreciation expenses	38,000
Accounts payable	65,000
Interest expense	26,000
Short-term notes payable	29,000
Income taxes	59,850
Inventories	47,000
Marketing, general, and administrative expenses	45,000
Gross fixed assets	648,000
Long-Term debt	360,000
Common stock	120,000
Other assets	15,000
Retained earnings	138,500
Inaddition, the firm has 10,000 shares outstanding and paid $15,000 in common stock dividends during the year.
(Click on the icon located on thetop-right corner of the data table above in order to copy its contents into aspreadsheet.)Done