Question #3 A. ABC Company accountants generated the following data. Prepare an Income Statement (IS) for years 2012 thru 2016: (7 points) 2014 $1,999.0O S2,398.80 $2,878.56 53.454 27 $4.145.13 $223.00 $245.3 S269.83 $296.81 $326.49 2012 2013 2015 2016 Cost of Goods Sold (COGS Depreciation Expense General &Administrative Expense S187 Interest Expense Lease Expense Preferred Stock Dividends Sales Revenues Selling Expense Taxes (29%) $91.00 $91.00 $91.00 S91 00 S91.00 45.00$45.00 $45.00 $45.00 $45.00 $10.00 $10.00 $10.00 S1000 $10.00 270 S108.00 $124.20 $142.83 $164.25 $188.89 $254.00$228.00 $187.00 $128.00 $46.00 S3.529.00 S3.881.90 697.10 S5.166.8 B. What is the primary reason ABC Company's Net Income has continued to decrease each year, despite increasing sales? (3 points) C. You are the CFO; give two recommendations to the CEO that you believe would change the negative trend and improve profits? In 50 words or less, explain how they could be effective. (2 BONUS points) (Note: each recommendation must be feasible, logically related to the primary reason identified in part B, and reasonably expected to be effective)