condemned income statement for the Electronics Division of Gihhli Industries inc. for the year ended December 31 is as follows: Sales Cost of goods sold Gross profit Operating expenses Income from operations Invested assets $1,575,000 891,000 5684,000 558,000 $ 126,000 51,050,000 condemned income statement for the Electronics Division of Gihhli Industries inc. for the year ended December 31 is as follows: Sales Cost of goods sold Gross profit Operating expenses Income from operations Invested assets $1,575,000 891,000 5684,000 558,000 $ 126,000 51,050,000