The Following Information Is Available for Westglow Corporation for the Year

The following information is available for Westglow Corporation for the year ended December 31 2017: $$\begin{array} { l r } \text { Corrected overstatement of } 2016 \text { depreciation expense } & 15,000 \\\text { Cost of goods sold } & 700,000 \\\text { Declared cash dividends } & 50,000 \\\text { Operating expenses } & 170,000 \\\text { Other expenses and losses } & 40,000 \\\text { Other revenues and gains } & 50,000 \\\text { Sales revenue } & 1,200,000 \\\text { Tax rate } & 40 \%\end{array}$$ Instructions
Prepare a corporate income statement in good form.