Income Statement
January 1-December 31, 200_
Sales               592,000 100%
Less: Cost of goods sold                284,160 48%
Gross Margin               307,840 52%
     
Operating expenses:  
Salaries                   82,880 14%
Utilities                   17,760 3%
Depreciation                   23,680 4%
Rent                   23,680 4%
Insurance                   41,440 7%
Interest                     5,920 1%
Sales promotion                   76,960 13%
Taxes and licenses                   11,840 2%
Total expenses                284,160 48%
     
Net income before taxes                   23,680 4%