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PLEASE USE EXCEL Shallow Inc. has sales of $1,500,000, costs of $975,000, depreciation expense of $142,000,...

PLEASE USE EXCEL

Shallow Inc. has sales of $1,500,000, costs of $975,000, depreciation expense of $142,000, interest expense of $56,000, and a tax rate of 21 percent.
a. Prepare the Income Statement for the firm
b. What is the net income for the firm?
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