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The following condensed income statements of the Jackson Holding Company are presented for the two years ended December 31, 2013 and 2012: 2013 2012 Sales
The following condensed income statements of the Jackson Holding Company are presented for the two years ended December 31, 2013 and 2012: |
2013 | 2012 | |||||
Sales | $ | 16,100,000 | $ | 10,700,000 | ||
Cost of goods sold | 9,750,000 | 6,550,000 | ||||
Gross profit | 6,350,000 | 4,150,000 | ||||
Operating expenses | 3,640,000 | 3,040,000 | ||||
Operating income | 2,710,000 | 1,110,000 | ||||
Gain on sale of division | 710,000 |
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