Common-Sized Income Statement ($ thousands) for the Years Ended 12/31/2014 and 12/31/2015

2014 2014 2015 2015

Sales $5,600 100 % $5,300 %

Cost of goods sold -3,600 64.1 % -3,300 %

Gross profits $2,000 164.1 % $2,000 %

Operating expenses:

Selling, general, and administrative expenses -820 2.5 % -760 %

Depreciation expenses -330 % -480 %

Total operating expenses ($1,150) % ($1,240) %

Operating income (EBIT) $850 % $760 %

Interest expense -190 % -265 %

Earnings before taxes (taxable income) $660 % $495 %

Income taxes -264 % -198 %

Net income $396 % $297 %