$1.$ In the following income statement, find the percent for each $2015$ and $2014$ item. Then find the amount and percent of change. Round percents to two decimal places. $(1/2$ point for each correct answer$)$

Georgia Textiles

Income Statement

For the Years Ended December $31,2015$ and $2014$

$2015$

Amount

$2015$

$2014$

$2014$

Revenue from sales:

Percent

Increase$/$Decrease

Amount

Percent

Amount

Percent

Sales

Less returns

NET SALES

$$920,000$

$35,000$

$$885,000$

$$827,000$

$30\mathrm{.}000$

$$797,000$

Cost of goods sold:

Inventory, January $1$

Purchases

Available for sale

Inventory, December $31$

Cost of goods sold

Gross profit

Operating expenses:

Wages

Rent

Advertising

Insurance

Depreciation

Equipment rental

Administrative

Miscellaneous

Total operating expenses

Income before tax

Income tax

NET INCOME

$$210,000$

$460,000$

$$670,000$

$240,000$

$$430,000$

$$455,000$

$$197,000$

$395\mathrm{.}000$

$$592,000$

$210,000$

$$382,000$

$$415,000$

$$132,600$

$84,000$

$18,000$

$4,500$

$3,600$

$1,200$

$7,000$

$3,200$

$$254,100$

$$200,900$

$32,000$

$$168,900$

$$120,000$

$80,000$

$20,000$

$4,200$

$3,100$

$1,400$

$5,200$

$2,100$

$$236,000$

$$179,000$

$28,000$

$$151,000$