GHI GHI Co. Statement of Income December 31, 20X1…

GHI GHI Cо. Stаtement оf Incоme December 31, 20X1 Revenues $1,459,500 Expenses: Cost of Goods Sold   (408,000) Selling аnd Administrаtive Costs   (198,000) Amortization Expense     (81,000) Other Expenses   (205,500)        (892,500) 20X1 Net Income before Income Tax Expense $567,000 While reviewing their statements and accounting records you note the following: Other expenses includes: Interest on late municipal tax payments            150 Estimated future inventory spoilage         3,200 Appraisal fees on equipment for insurance purposes.         5,000 Office insurance         2,700 Donations to registered charities ($700) and a local hockey team ($800)         1,500 Interest on an outstanding business loan         4,200 Bonuses of $25,000 were declared December 15, 20X1 and paid August 1, 20X2       25,000 Property taxes on their building         5,900 Financing fees paid on March 1, 20X1 to secure a loan         1,000 Notes: 1. CCA has been correctly calculated as $70,000. Required:  Prepare a reconciliation from accounting income to Net Income for Tax Purposes. Remember that you can use the to enter full screen mode.  Press ESC to exit.