The financial statements of Zach Industries for the year ended December 31, 2022, follow.

Summary: Financial Statements and Ratio Analysis LG6 Excel P3-23 Financial statement analysis The financial statements of Zach Industries for the year ended December 31, 2022, follow. Zach Industries Income Statement for the Year Ended December 31, 2022 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense General and administrative expenses Lease expense Depreciation expense Total operating expense $160,000 106,000 $ 54,000 $ 16,000 10,000 1,000 10,000 $ 37.000