Financial Statements You have obtained the following information about Zazz Company and wish to evaluate the success of its operations for the last year:

a. Organize the information into an income statement format and calculate Zazz’s net income for the year.

b. If you believe a company’s net income must be at least 10 percent of total net revenue to be successful, was Zazz successful?

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Tax expense $ 9,000 Cost of products sold 85.000 Total net revenue 155,000 Interest expense 10,000 Interest and other income 6,000 Advertising expense 23,000 Other selling expense 8,000 Administrative expense 13,000