Income Statement Leonardo Inc. Income Statement For the Year Ended December 31, 2013 Sales Cost of merchandise sold Gross profit Operating expenses: Depreciation expense Other operating expenses Total operating expenses Income from operations Other revenue and expenses: Interest revenue Gain on sale of land $367,200 190,944 $176,256 $3,840 121,008 124,848 $51,408 $720 3,360 4,080 $55,488 14,688 $40,800 Income before taxes Income taxes Net income + Comparative Balance Sheet