MEGA, INC.

Comparative Income Statement

For the Years Ended December 31, 2018, and 2017

2018 2017

Net Sales $360,000 $290,000

Cost of goods sold 274,000176,000

Gross Margin $136,000 $114,000

Operating expenses 80,00060,000

Operating income $ 56,000 $ 54,000

Interest expense 14,000 10,000

Income before income taxes $ 42,000 $ 44,000

Income taxes expense 14,000 16,000

Net Income $ 28,000 $ 28,000

Earnings per share $ 2.80 $ 2.80

MEGA, INC.

Comparative Balance Sheet

December 31, 2018 and 2017

2018 2017

Assets

Gross assets $ 48,000 $ 40,000

Property, plant, and equipment (net) 260,000 200,000

Total assets $308,000$240,000

Liabilities and Stockholders Equity

Current Liabilities $ 36,000 $ 44,000

Long-term liabilities 180,000 120,000

Stockholders equity 92,000 76,000

Total liabilities and stockholders equity $308,000 $240,000

1) Find the COST OF GOODS SOLD - $ CHANGE, % CHANGE