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solve the questions Question 1 Donald Duck Creative Toys Lid. Income Statement Year Ended December 31, 2010 2010 2009 Sales $858,000 $803,000 Cost of goods

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Question 1 Donald Duck Creative Toys Lid. Income Statement Year Ended December 31, 2010 2010 2009 Sales $858,000 $803,000 Cost of goods sold 513.000 509 000 Gross margin 345,000 294.000 Depreciation Expense 49.000 53,000 Other Operating Expense 195.000 244.000 184,000 237 000 Income from operations 101,000 57.000 Interest Revenue 4,000 Interest Expense 24 000 14.000 Income before taxes 81.000 43,000 Income taxes 33,000 17.000 Net income $48.000 $26.000

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