QUESTION #5 Using the excerpt from the Moon Company's annual report, calculate any profit measures deemed necessary and discuss the implications of the profitability of the company. Moon Company Income Statements for the Years Ended December 31, 2016, 2015 and 2014 2014 2015 2016 $220,000 $196,000 169,000 $150,000 Net sales 108,000 $ 49,000 $42,000 20,000 $ 25,000 $24,000 22,000 7,000 147,000 Cost of goods sold Gross profit Operating expenses Operating profit $ 51,000 25,000 26,000 7,500 7,800 Income taxes $ 17,200 $ 16,500 $15,000 Net income