Continuing problem 10, Westmark Industrials annual income statement and balance sheet for December 31, 2017, are shown next. Additional information about the companys accounting methods and the treasurers expectations for the first quarter of 2018 appear in the footnotes. Income Statement January 1, 2017 to December 31, 2017 ($ thousands) Net sales Cost of goods sold1 Gross profits Selling and administrative expenses2 Interest expense Depreciation3 Net profit before tax Tax (33%) Net profit after tax $6,000 3,900 2,100 1,620 90 90 300 99 $ 201