Income Statement
January 1-December 31, 200_
Sales               592,000 100%
Less: Cost of goods sold      48%
Gross Margin     52%
       
Operating expenses:  
Salaries      14%
Utilities                   17,760  
Depreciation        4%
Rent                   23,680 4%
Insurance                   41,440  
Interest        1%
Sales promotion                   76,960  
Taxes and licenses        2%
Total expenses                284,160  
     
Net income before taxes