s into a spreadsheet.) Zach Industries Income Statement for the Year Ended December, 31, 2015 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses $160,500 105,700 $54,800 $16,000 Selling expense General and administrative expenses Lease expense Depreciation expense 9,900 980 10,500 $37,380 $17,420 5,600 $11,820 4,400 $7,420 Total operating expense Operating profits Less: Interest expense Net profits before taxes Less: Taxes Net profits after taxes Print Done