Sales revenue Cost of goods sold CULLUMBER MANUFACTURING INC. Statement of Income For the Year Ended October 31 (in thousands of dollars) 2024 956 2023 $1,357 2022 $1,113 Gross margin 671 437 Operating expenses 134 110 Store expenses Administrative expenses 131 108 90 Depreciation expense 111 97 Operating income 268 267 137 Investment income 10 12 12 Financing expenses 23 19