Financial Statement analysis.

22. Prepare an income statement of Khobar Co. using the following information: Gross profit margin Gross profit Tax rate Operating profit 40% $7,500 35% $400 23. Using the following information prepare a common size income statement: $9,500 Net sales Cost of goods sold Gross profit General and administrative expenses Selling expenses Operating profit Income tax expense 5,900 $3,600 1,250 920 $1,430 460 970 Net profit