Construct a simple income statement that calculates net income given the following information: Cost of goods sold: 200 Income taxes: 100 General and administrative expenses: 50 Depreciation expense: 150 Revenue: 1,000

The construction of the simple income statement is presented below:

Sales revenue $1,000

Less: Cost of goods sold - $200

Gross profit $800

Less: Operating expenses

General and administrative expenses - $50

Depreciation expense - $150

Profit before tax $600

Less: income tax - $100

Net income $500