Use the following Year 3 data: Other Selling and Administrative Expenses$1,050,300 Other Expenses 247,600 Sales Revenue 4,885,300 Advertising and Promotion Expenses 552,500 Salaries and Wages Expense 2,524,400 Income Tax Expense 166,500 Interest Expense 113,900 Required:Prepare the annual income statement for Kvass, Inc.
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| KVASS, INC. Income Statement For the Year Ended December 31, Year 3 | |
| ? | ? |
| Revenues | ? |
| Sales Revenue | $4,885,300 |
| Expenses | ? |
| Salaries and Wages Expense | 2,524,400 |
| Advertising and Promotion Expenses | 552,500 |
| Other Selling & Administrative Expenses | 1,050,300 |
| Interest Expense | 113,900 |
| Income Tax Expense | 166,500 |
| Other Expenses | 247,600 |
| Total Expenses | 4,655,200 |
| Net Income | $ 230,100 |
| ? | ? |
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