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Banfield, Inc. Comparative Income Statement Years Ended December 31, 2016 and 2015 2016 2015 Net Sales $464,000 $430,000 Cost of Goods Sold 234,000 217,000 Gross

Banfield, Inc.

Comparative Income Statement

Years Ended December 31, 2016 and 2015

2016

2015

Net Sales

$464,000

$430,000

Cost of Goods Sold

234,000

217,000

Gross Profit

230,000

213,000

Operating Expenses

133,000

131,000

Income From Operations

97,000

82,000

Interest Expense

8,000

11,000

Income Before Income Tax

89,000

71,000

Income Tax Expense

21,000

27,000

Net Income

$68,000

$44,000

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