Grand Tree, Inc. Income Statement Year Ended December 31, 2016 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses $ 440,000 206,200 233,800 Salaries Expense Depreciation Expense-Plant Assets Other Operating Expenses Total Operating Expenses $ 78,400 14,600 10,400 103,400 130,400 Operating Income Other Revenues and (Expenses): Interest Revenue Interest Expense lotal Other Revenues and (Expenses) 8,600 (21,500) (12,900)