For the Years Ended December 31 Cost of goods Grass profit19

For the Years Ended December 31 Cost of goods Grass profit190.30 Oparaing Net income 96-200 136.250 130.900 54,680 prepr.. hanzents enhver. th\" ncom, v atament d-te or Emi Cerporaten ueng 2016 hse. Enter negativ-amounts and percentages using \"ith-ra negative sign prece mg the nurnber m g 45, 45% or parentheses \" g 4S 45% Round percentages to 1 drevma, place,- 12.3%. During 2017 717.400 $654,000 Cont of goods sold 526,470 57,800 Greus proft Oparating a 136,20 130,800 het income 90,930 196,200 e repe.. veteel analyss of the incom. statem-mt dat.tr Emley Corporation n columnar farm for both years. (Round porcentaqes to 1 decema!plac\"..g. 12.3%. Paroant 717,400 5854,000 Cost of goods sold 326,470 Groes proft Operating epesas 136,250 het noome 90,930 196.200

Solution

a EMLEY CORPORATION Condensed Income Statements For the Years Ended December 31 2017 2016 Amount Percentage Net sales 717400 654000 63400 9.7% Cost of goods sold 526470 457800 68670 15.0% Gross profit 190930 196200 -5270 -2.7% Operating expenses 136250 130800 5450 4.2% Net income 54680 65400 -10720 -16.4% b EMLEY CORPORATION Condensed Income Statements For the Years Ended December 31 2017 2016 Net sales 717400 100.0% 654000 100.0% Cost of goods sold 526470 73.4% 457800 70.0% Gross profit 190930 26.6% 196200 30.0% Operating expenses 136250 19.0% 130800 20.0% Net income 54680 7.6% 65400 10.0%