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Challenge Industries, Inc. Income Statement For the Year Ended December 31, 2012 (in $ thousands) Sales revenue $ 4,800,000 Less: Cost of goods sold Gross profits Coo Less operating expenses: Selling expense General and administrative expense Depreciation S690.000 150,000 120.000 Total operating expenses S1,560,00 Earnings before interest and taxes Less: Interest expense Earnings before taxes Less: Taxes Net income (Net profits after taxes) Less: Preferred dividends Earnings available for common stockholders 35.000 130,000 180,CoD Less: Dividends To retained eanings Challenge Industries, Inc