The Dobson Company Gathered the Following Condensed Data for the Year

Essay

The Dobson Company gathered the following condensed data for the year ended December 31, 2014: $\begin{array}{lr}\text { Cost of goods sold } & \$ 720,000 \\\text { Net sales } & 1,249,000 \\\text { Administrative expenses } & 289,000 \\\text { Interest expense } & 68,000 \\\text { Dividends paid } & 38,000 \\\text { Selling expenses } & 45,000\end{array}$ Instructions
Prepare an income statement for the year ended December 31, 2014.