Ambrose Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2016 Industry Ambrose Average Net Sales Cost of Goods Sold Gross Profit Operating Expenses Operating Income Other Expenses Net Income 776,000 523,024 252,976 162,960 90,016 6,208 S83,808 100.0% 65.8 34.2 19.7 14.5 0.4 14.1 %