1. Fill in the blanks in the Income Statement and Complete the Common Size Statement. Smith Burgers Income Statements Jan 1 - Dec 31 2010 2010 2009 Sales $2,900,000 $2,350,000 Cost of Goods 2,030,000 1,645,000 Gross Profit Depreciation 62,000 58,000 Selling & Admin. Expense 425,000 390,000 Lease Expense 65,000 65,000 Net Operating Income Interest Expense 112,000 68,000 Earnings Before Taxes Taxes 72,100 43,400 Net Income ($72,100) ($43,400) Notes: Tax Rate 35.00% 35.00% Shares 38,000 30,000 Earnings per Share ($1.90) ($1.45)