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For 2 0 1 3 , Greyhound Technology Company reported its most significant decline in net income in yearsAt the end of the year, Duane

For 2013, Greyhound Technology Company reported its most significant decline in net income in yearsAt the end of the year, Duane Vogel, the president, is presented with the following condensed comparative income statement: GREYHOUND TECHNOLOGY COMPANY Comparative Income Statement For the Years Ended December ,2013 and 201220132012 Sales $ .845,480760,000 Cost of goods sold (595,200)480,000) Gross profit 250,280280,000 Selling expenses (83,200)(64,000) Administrative expenses (48,640)(40,000) Total operating expenses (131,840)(104,000) Income from operations 176,0003,200 Other revenue 4,042 Income before income tax $ 179,200(34,300)(53,800) Income tax expense 88,182125,400 Net income Instructions for the two -year period, using 2012 as the base year. Enter decreases as negative amounts and

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