Income statement

Revenues:
   - Sales of Products: $75,000.00
   - Repair Service: $40,000.00
Total Revenues: $115,000.00

Cost of Goods and Services Sold (COGS): $33,000.00

Gross Profit: Total Revenues - COGS = $115,000.00 - $33,000.00 = $82,000.00

Operating Expenses:
   - Salaries and Wages: $20,000.00
   - Office Supplies: $2,500.00
   - Interest Expense: $1,200.00
   - Advertising Expenses: $3,800.00
   - Rent Expense: $8,000.00
Total Operating Expenses: $35,500.00

Net Income: Gross Profit - Total Operating Expenses = $82,000.00 - $35,500.00 = $46,500.00