The financial statements of Burnaby Mountain Trading Company are shown below. Income Statement 2017 Sales Cost of Goods Sold $7,000,000 5,000,000 $2,000,000 Gross Profit Selling and Administrative Expenses 1,700,000 EBIT Interest Expense Income before Tax Taxes Net Income $ 300,000 50,000 $ 250,000 100,000 $ 150,000