Please detail analyze the Statement of Income for 2017 as compared to 2016. At least 380 words.

stion: calculate the yellow subtotals before going on to answer individual questions (e.g. the current assets, etc.). are intermediate numbers used in various ratios. [1] [2] Common size Balance Sheet & Income Stat Yr 2016 Yr 2017 2016 Yr 2016 2017 Yr 2017 Big Apple Enterprises ASSETS Cash Accounts Receivable Inventory Current Assets 4,500 21,000 7,500 33.000 6,000 21,000 8,000 35.000 7.26% 33.87% 12.10% 53.23% 8.57% 30.00% 11.43% 50.00% Other Non-current Assets Net Fixed Assets TOTAL ASSETS 10,500 18.500 62.000 9,000 26.000 70.000 16.94% 29.84% 100.00% 12.86% 37.14% 100.00% LIABILITIES Current Liabilities Debt Equity TOTAL LIABILITIES & EQUITY 20,000 22,000 20.000 62.000 11,000 29,000 30.000 70.000 32.26% 35.48% 32.26% 100.00% 15.71% 41.43% 42.86% 100.00% INCOME STATEMENT Revenue Cost of Goods Sold (COGS) Gross Profit 125,000 85.000 40.000 145,000 110.000 35.000 100.00% 68.00% 100.00% 75.86% 16.00% 18.62% SG&A Operating Profit (EBIT) 20.000 20.000 27.000 8.000 2.24% 2.38% Interest Expense Earnings Before Taxes (EBT) Taxes Net Income After Tax (NIAT) 2.800 17.200 5.160 12.040 3.450 4.550 1.365 3.185 Other Information Tax Rate Shares Outstanding Dividends paid Yr 2016 30% 2,000 3,000 Yr 2017 30% 2,000 3,000 Share Price $8.00 $6.00