In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data. Salaries and wages...

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In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data.

Salaries and wages expenses $720,750 Loss on disposal of plant assets $ 129,425
Cost of goods sold 1,529,850 Sales revenue 3,425,500
Interest expense 110,050 Income tax expense 38,750
Interest revenue 100,750 Sales discounts 248,000
Depreciation expenses 480,500 Utilities expense 170,500

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