2. Which of the following is not considered a common characteristic of an entrepreneur? A) Internal locus of control B) High need for achievement C) Self-confidence D) Willingness to take risk $3,053,081 50 2.972413 12541 592 BOC HONG COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015 Sales Sales revenue Less: Sales discounts $ 24.241 Sales returns and allowances 56.427 Net sales Cost of goods sold Gross profit Selling expenses Sales salaries and commissions $202,644 Sales office salaries 59,200 Travel and entertainment 48,940 Advertising expense 38,315 Delivery expense 41,209 Shipping supplies and expense 24.712 Postage and stationery 16,788 Telephone and Internet expense 12,215 Depreciation of sales equipment 9,005 453,028 Administrative expenses Officers' salaries 186,000 Office salaries 61,200 Legal and professional services 23,721 Utilities expense 23,275 Insurance expense 17,029 Depreciation of building 18,059 Depreciation of office equipment 16,000 Stationery, supplies, and postage 2,875 Miscellaneous office expenses 2,612 350,771 Other income and expense Dividend revenue 98,500 Rent revenue 42,910 Gain on sale of plant assets 30,000 Income from operations Interest on bonds and notes Income before income tax Income tax Net income for the year Attributable to: Shareholders of Boc Hong Non-controlling interest Earnings per share 803,799 171.410 357,483 126,060 231,423 66,934 $ 164,489 ON 4-2 ment $ 120,000 44,489 $1.74