The following information was developed from the financial statements of Darwin, Inc. At the beginning of 2011, the company's former supplier went bankrupt, and the company began buying merchandise from another supplier.

		2011			2010
Gross profit on sales	$	1,008,000		$	1,134,000
Income before income tax		230,400			252,000
Net income		172,800			189,000
Net income as a percentage of net sales		6.0	%		7.5	%

a.	Compute the net sales for each year. (Omit the "$" sign in your response.)

	Net sales
2011	$
2010	$

b.	Compute the cost of goods sold in dollars and as a percentage of net sales for each year. (Omit the "$" & "%" signs in your response.)

	2011	2010
Cost of goods sold in dollars	$	$
Cost of goods sold as a percentage of net sales	%	%

c.	Compute operating expenses in dollars and as a percentage of net sales for each year. (Income taxes expense is not an operating expense.) (Omit the "$" & "%" signs in your response.)

	2011	2010
Operating expenses dollars	$	$
Operating expenses as a percentage of net sales	%	%

d.	Prepare a condensed comparative income statement for 2010 and 2011. Include the following items: net sales, cost of goods sold, gross profit, operating expenses, income before income tax, income taxes expense, and net income. Omit earnings per share statistics. (Omit the "$" signin your response.)

DARWIN, INC. Condensed Comparative Income Statement For the Years Ended December 31, 2011 and December 31, 2010
	2011	2010
accts rcvbl, salaries pybl, net sales, net purchase or depreciation expns?	$	$
depreciation expns, office equip, cost of goods sold, fuel expns or salaries pybl?
gross profit or loss?	$	$
salaries pybl, depreciation exps, fuel expns, acct pybl or oper expns?
accts rcvb, office equip, fuel expns, deprecation expns or income before income tax?	$	$
supplies expns, accts pyble, income taxes expns, salaries pyble or depreciation expns?
Net income or net loss?	$	$