Question #1 FRANCORP produces XYZ products. The company's income statements for the last two years are given below: Units sold Sales Less cost of goods sold Gross margin Less operating expenses Net income Last year 33,000 $650,000 450 ooo 200,000 154 ooo $46 ooo This year 57,000 $920,000 690 ooo 230,000 190 ooo $40 ooo