For Baggerly Fashions, the Following Information Is Available for the Year

For Baggerly Fashions, the following information is available for the year ended December 31, 20X3: $$\begin{array} { | l | r | } \hline \text { Sales revenue } & \$ 5,500,000 \\\hline \text { Cost of goods sold } & 2,800,000 \\\hline \text { Salaries expense } & 1,100,000 \\\hline \text { Rent expense } & 620,000 \\\hline \text { Administrative expense } & 490,000 \\\hline\end{array}$$ The income tax rate is 35%. Required: Prepare an income statement for Baggerly Fashions.