Income Statement for Fiscal Year Ended December 31
| Sales | $50,000,000 |
| Less Cost of Goods Sold | $26,000,000 |
| Gross Profits | $29,000,000 |
| Less Operating Expenses | $5,000,000 |
| Operating Profits | $10,000,000 |
| Less Net Interest | $90,000 |
| Profit Before Taxes | $7,500,000 |
| Less Taxes (at 46% rate) | $1,500,000 |
| Profit After Taxes | $5,000,000 |
| Retained Earnings | $23,000,000 |
