Use the following information to prepare an income statement for Fairchild Corporation for the year ended December 31, 2003. You should show separate classifications for revenues, cost of goods sold, gross margin, selling expenses, general and administrative expenses, operating income, other revenues and expenses, income before income taxes, income taxes, and net income. (HINT: Net income is $27,276.) SalestRetunnSesee cents et eee rte oA Ne ie EAN PRCTE PPE Pelee arc te oe lar amegey Ue oroee $ 4,280 INCOMECWAXESitaM ere e hee ot ik ieee Ga ck eens crkle cae meters oe Sir ealisialieue eiepcns iene Rta mene 26,000 INtEKeESTAREVCTUGRy mela a erent erent ee eee a et rate nee alice olen aitae citer, epee iien It 2,400 Office Supplies Expense (General and Administrative).....................00.. 400 Utilities Expense (General and Administrative)... 0.0.0.0... 0.0.0.2... 000s 3,980 Office Salaries Expense (General and Administrative) ...................000005 12,064 MiscellancousrsellimGrEXPemSes rsa tess -crcitce-ariencietcncnetaic neler nenen tener eater a sree 460 InSunancereExpenser(SellinG)iovs acieccws cots smi citche pee RRS ore cluemomakag-a acces rotenone: 1,160 NAVE NtISINGUEX DCIS Car vaieienste ctsth teten cesarean rea. err eR ence ra el Metis ter cke sp. ra 6,922 SalesnSalanieSvEXPEMSO sac a ana e sei-nicaimasrare: fe spas eve eee asi ge Meat eo menor osc netesmne ee Poole geternietia: 40,088 SAlSSHDISCOUNES Mee vc ike auate oc cronies a curticirey xs “ose Goes PS Nv RC Re EMERR vrre ayyee sitet sno ate Resse eh nae veeres 3,644 IntenestiEXPEMSE aie. ci ee rota eee ed Itaeneck tein) epee, ki ae Oy ORD Mager opr trae ielral ete 1,170 Miscellaneous General and Administrative Expenses................ 00.0.0 00585 620 Insurance Expense (General and Administrative) ......................2.00058, 600 Payroll Tax Expense (General and Administrative). i. 00 te ee ee 3,600 Stone SUPPILESTEXDEMSEN( SEMIN) egeumeencyetete ce ccm tie ue ate mentees) am) Gel caey lake cn teyb tel srr 800 DelivenvaexDeMseiSel ling) aamimet weee mis cin’. te Neds sean Weer eu chare Ceniebenene te a eicee 2,198 INVENtOnVarlamUahvymlne OO Stare mee ete wns ene rte WM SeeMRi cena code mins @imiyeite) iiee rs =P ite 79,400 SalESHREVEMU CHE Meme ee chee Us RO prt et Wai ne ROR ioc sk aba ws ect! al atin eyaplal dwn el i oie 395,472 Average number of shares of stock outstanding . 2.2.0.2. 6-2 e eee eee tees 10,000 CoOSsoMmGoods: Soliman att set chet ey Pins Ae See EP ew wife a Fished ede Giayey m plese wi@ue fs 262,610 BUrGnascsmeeeaaee enn eet. 08 silts trer aerate rh, tote et cegrendeh iss nati dictvobts alae ahaha rereNel nme 4 230,560 RurchaseseDISCOUtS mae meae ier a Aa tered FC, UMC GRR ib tems isis Sale 20 po cemee ees «eee Rowe 3,050 Inventonvmbecenmbermele200Siiee cae cs viu.auckt cle elebithenl elle ete ae wee we ele wee 44,300