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Hi - Can you please advise of what the net profit is based on the information below: Zach Industries Income Statement for the Year Ended

Hi - Can you please advise of what the net profit is based on the information below:

Zach Industries Income Statement for the Year Ended December 31, 2015

Revenue $160,000

Less: Cost of goods sold 106,000

Gross profits $ 54,000

Less: Operating expenses

Selling expense $ 16,000

General and administrative expenses 10,000

Lease expense 1,000

Depreciation expense 10,000

Total operating expense $ 37,000

Operating profits $ 17,000

Less: Interest expense 6,100

Net profits before taxes $ 10,900

Less: Taxes 4,360

Net profits after taxes $ 6,540

Zach Industries Balance Sheet December 31, 2015

Assets Cash $ 500

Marketable securities 1,000

Accounts receivable 25,000

Inventories 45,500

Total current assets $ 72,000

Land $ 26,000

Buildings and equipment 90,000

Less: Accumulated depreciation 38,000

Net fixed assets $ 78,000

Total assets $150,000

Liabilities and Stockholders Equity Accounts payable $ 22,000

Notes payable 47,000

Total current liabilities $ 69,000

Long-term debt 22,950

Common stock 31,500

Retained earnings 26,550

Total liabilities and stockholders equity $ 150,000

The firms 3,000 outstanding shares of common stock closed 2015 at a price of $25 per share.

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