Elvis Products International Income Statement For the Year Ended Dec. 31, 2009 2009 2008 Sales 3,850,000 3,432,000 3,250,000 2,864,000 240,000 330,300 100,000 20,000 100,000 18,900 Cost of Goods Sold Gross Profit Selling and G&A Expenses Fixed Expenses Depreciation Expense Earnings Before Interest & Taxes/EBIT Interest Expense Earnings Before Taxes Taxes Net Income 76,000 62,500 Notes Tax Rate 40% 40%