b) ABC LIMITED TREND ANALYSIS OF INCOME STATEMENT Particulars Sales Revenue Amount ($) 2010 - Base Year 13,93,018 6,70,017 7,23,001 Amount ($) 2011 $16,40,000 (8,00,000) 8,40,000 Cost of Goods Sold Gross Profit (4,40,000) Operating Expenses Profit from Operations 4,00,000 (3,62,647) 3,60,354 (11,547) 3,48,807 Finance Cost (15,000) Profit Before Tax 3,85,000 (25,000) (20,296) Income Tax Expenses Profit after Tax for the Year (Net Income) $ 3,28,511 $ 3,60,000 Requirement: After analyzing Interpret about ABC Limited's financial performance for the year 2011