The income statement comparison for Forklift Material Handling shows the income statement for the current and prior year.

FORKLIFT MATERIAL HANDLING

Income Statement Corporation

Current Year Prior Year

(amounts in thousands)

Sales $33,750 $24,750

Cost of Goods Sold 21,938 16, 830

Gross Profit $11,812 $ 7,920

Wages $ 8,775 $ 6,188

Utilities 675 250

Repairs 169 325

Selling 506 200

Total Expenses $10,125 $ 6,963

Operating Income ? ?

Operating Income % ? ?

Total Assets (investment base) $ 4,500 $ 1,500

Return on Investment ? ?

Residual Income (8% cost of capital) ? ?

• Provide formulas and calculations used to find current year operating income, operating %, return on investment (ROI), and residual income.