Assume a company's Income Statement for Year 12 is as follows: Year 12 (in 000s) Income Statement Data Net Revenues from Footwear Sales Cost of Pairs Sold Warehouse Expenses Marketing Expenses Administrative Expenses Operating Profit (Loss) Interest Income (expenses) Pre-tax Profit (Loss) Income Taxes Net Profit (Loss) $300,000 190,000 15,000 40,000 8,000 47,000 (10,000) 37,000 11,100 $ 25,900 Based on the above data, which of the following statements is false? Assume a company's Income Statement for Year 12 is as follows: Year 12 (in 000s) Income Statement Data Net Revenues from Footwear Sales Cost of Pairs Sold Warehouse Expenses Marketing Expenses Administrative Expenses Operating Profit (Loss) Interest Income (expenses) Pre-tax Profit (Loss) Income Taxes Net Profit (Loss) $300,000 190,000 15,000 40,000 8,000 47,000 (10,000) 37,000 11,100 $ 25,900 Based on the above data, which of the following statements is false