Further Analysis Prepare a common size income statement for the last three years presented, expressing each income statement item as a percentage of total revenue (Total revenue 100 ) (Use excel) Information for Decision Makers Answer the following questions Use complete sentences Comment on the trend in total revenue Is it increasing or decreasing during the three year period How has the gross profit percentage changed over the three year period Comment on the ratio of total operating expenses to operating revenue over the three year period Comment on individual revenue and expense items that had a significant percentage changes (changes as a percentage of total revenue or total expense) over the three year period Indicate the percentages Comment on the overall trend in the operating income and net income as a percentage of sales over a three year period Refer to information obtained in question 2 and 4 Comment on significance of these changes Do they indicate a positive or negative trend for your company Explain Include any other comments that you consider relevant DO NOT USE THE YEAR 2018 2017,2016, and 2015 are the years used for this assignment Annual Income Statement (values in 000's) Period Ending Total Revenue Get Quarterly Data Trend 12 31 2018 12 31 2017 12 31 2016 12 31 2015 $194,579,000 $184,786,000 $177,546,000 $153,290,000 $163,041,000 $156,258,000 $148,712,000 $126,762,000 $31,538,000 $28,528,000 $28,834,000 $26,528,000 Cost of Revenue Gross Profit Operating Expenses Research and Development Sales, General and Admin $0 $21,368,000 $18,809,000 $18,448,000 0 $0 $0 $0 $0 Non Recurring Items Other Operating Items Operating Income Add'l income expense items Earnings Before Interest and Tax$4,025,000 $9,330,000 $9,715,000 9,454,000 Interest Expense Earnings Before Tax $6,149,000 $181,000 $0 $0 $4,021,000 $9,538,000 $10,386,000 $9,475,000 ($208,000) ($671,000) ($21,000) $4,000 $2,619,000 $1,062,000 $1,078,000 $838,000 $1,406,000 $8,268,000 $8,637,000 $8,616,000 $2,002,000 $1,637,000 3,317,0003,386,000 $2,000 Income Tax ($2,000) Minority Interest ($2,000) ($1,000) Equity Earnings Loss $0 $0 S0 Unconsolidated Subsidiary Net Income Cont Operations Net Income ($596,000 $6,631,000 $5,320,000 $5,230,000 ($594,000 $6,622,000 $5,317,000 $5,237,000 ($594,000 $6,622,000 $5,317,000 $5,237,000 Net Income Applicable to Common Shareholders

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Further Analysis: Prepare a common-size income statement for the last three years presented, expressing each income statement item as a percentage of total revenue (Total

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Further Analysis:

Prepare a common-size income statement for the last three years presented, expressing each income statement item as a percentage of total revenue (Total revenue = 100%) (Use excel)

Information for Decision Makers:

Answer the following questions. Use complete sentences.

Comment on the trend in total revenue. Is it increasing or decreasing during the three-year period.
How has the gross profit percentage changed over the three-year period?
Comment on the ratio of total operating expenses to operating revenue over the three-year period.
Comment on individual revenue and expense items that had a significant percentage changes (changes as a percentage of total revenue or total expense) over the three-year period. Indicate the percentages
Comment on the overall trend in the operating income and net income as a percentage of sales over a three-year period. Refer to information obtained in question 2 and 4.
Comment on significance of these changes. Do they indicate a positive or negative trend for your company? Explain
Include any other comments that you consider relevant.

DO NOT USE THE YEAR 2018!

2017,2016, and 2015 are the years used for this assignment

Annual Income Statement (values in 000's) Period Ending Total Revenue Get Quarterly_Data Trend 12/31/2018 12/31/2017 12/31/2016 12/31/2015 $194,579,000 $184,786,000 $177,546,000 $153,290,000 $163,041,000 $156,258,000 $148,712,000 $126,762,000 $31,538,000 $28,528,000 $28,834,000 $26,528,000 Cost of Revenue Gross Profit Operating Expenses Research and Development Sales, General and Admin. $0 $21,368,000 $18,809,000 $18,448,000 0 $0 $0 $0 $0 Non-Recurring Items Other Operating Items Operating Income Add'l income/expense items Earnings Before Interest and Tax$4,025,000 $9,330,000 $9,715,000 9,454,000 Interest Expense Earnings Before Tax $6,149,000 $181,000 $0 $0 $4,021,000 $9,538,000 $10,386,000 $9,475,000 ($208,000) ($671,000) ($21,000) $4,000 $2,619,000 $1,062,000 $1,078,000 $838,000 $1,406,000 $8,268,000 $8,637,000 $8,616,000 $2,002,000 $1,637,000 3,317,0003,386,000 $2,000 Income Tax ($2,000) Minority Interest ($2,000) ($1,000) Equity Earnings/Loss $0 $0 S0 Unconsolidated Subsidiary Net Income-Cont. Operations Net Income ($596,000 $6,631,000 $5,320,000 $5,230,000 ($594,000 $6,622,000 $5,317,000 $5,237,000 ($594,000 $6,622,000 $5,317,000 $5,237,000 Net Income Applicable to Common Shareholders