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Elvis Products International Elvis Products International Income Statement Common Size Income Statement For the Year Ended Dec. 31, 2016 For the Year Ended Dec. 31, 2016 2016 2015 2016 2015 Sales 3,850,000 3,432,000 Sales Cost of Goods Sold 3,250,000 2,864,000 Cost of Goods Sold Gross Profit Gross Profit Selling and G&A Expenses 330,300 240,000 Selling and G&A Expenses Fixed Expenses 100,000 100,000 Fixed Expenses Depreciation Expense 20,000 18,900 Depreciation Expense EBIT EBIT Interest Expense 76,000 62,500 Interest Expense Earnings Before Taxes Earnings Before Taxes Taxes Taxes Net Income Net Income Notes: Tax Rate 40%