Basic Financial Ratios The accounting staff of CCB Enterprises has completed the financial statements for the 2017 calendar year. The statement of income for the current year and the comparative statements of financial position for 2017 and 2016 follow. CCB Enterprises Statement of Income For the Year Ended December 31, 2017 (thousands omitted) Revenue: Net sales Other Total revenue $798,440 60,600 $859,040 Expenses: Cost of goods sold $546,040 Research and development 25,940 Selling and administrative 155,640 Interest 19,620 Total expenses $747,240 Income before income taxes $111,800 Income taxes 44,720 Net income $67,080 CCB Enterprises Comparative Statements of Financial Position