. An excerpt from the Sun Company's annual report is presented below. Calculating any profit measures deemed necessary, discuss the implications of the profitability of the company. Sun Company Income Statements for the Years Ended December 31, 2007, 2006, and 2005 Net sales Cost of goods sold Operating expenses Gross profit Operating profit Income taxes Net income 2007 $236,000 186,000 $ 50,000 22,000 $ 28,000 12,000 $ 16,000 2006 $195,000 150,000 $ 45,000 18,000 $ 27,000 11,500 $ 15,500 2005 $120,000 85,000 $ 35,000 11,000 $ 24,000 10,500 $ 13,500