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Assume that you are the president of Highlight Construction Company. At the end of the first year of operations (December 31)

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--Requirement 1

Income Statement
For the year ended 31 Dec, current year
Total Sales Revenue $124,000
Expenses (including cost of goods sold) $89,200
Pretax Income OR Operating Income before income taxes $34,800
Income tax expense ($34800 x 30%) $10,440
Net Income - after tax $24,360
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