Answer:
The answer follows below;
Explanation:
Marin Corporation
Income Statement
For the year 31, xxxx 2017
Sales $2,427,500
Cost of Goods Sold ($1,465,500)
Gross Profit $962,000
Operating Expenses
Admin. Expenses ($220,600)
Selling Expenses ($289,300)
Interest Expense ($47,900)
Total Operating Expenses ($557,800)
Operating Income $404,200
Non Operating Income
Interest Income $40,000
Total Income before Taxation $444,200
Taxes (444,200*30%) ($133,260)
Net Income after Taxation $310,940
