Income statement is given for ABC Ltd for the years ending December 31, 2019, 2018 and 2017. Write one paragraph analysis on ABC Ltds profit performance for the period.

2. Income statement is given for ABC Ltd for the years ending December 31, 2019, 2018 and 2017. Write one paragraph analysis on ABC Ltd's profit performance for the period. ABC Ltd Income Statement 2019 2018 2017 Revenue 140.000 130.000 110.000 Cost of Goods Sold 70.000 65.000 55.000 Gross profit 70.000 65.000 55.000 Operating expenses Administrative Advertising Operating profit Interest expense EBT Tax expense (30%) Net income 10.000 5.000 55.000 5.000 50.000 15.000 35.000 10.000 7.500 47.500 4.750 42.750 12.825 29.925 10.000 7.500 37.500 3.750 33.750 10.125 23.625