Question 1 Here are the comparative income statements of Novak Corp.. NOVAK CORP. Comparative Income Statement For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross Profit Operating expenses Net income $637,600 461,400 176,200 79,200 $97,000 $522,500 400,800 121,700 43,600 $ 78,100