THORNTON COMPANY

THORNTON COMPANY

Income Statements for the Years Ending December $31$

$\backslash$table$[[,$Year $2,$Year $1],[$Revenues$,,218,700,$$ $182,200],[$Expenses$,,,],[$Cost of goods sold,,$125,400,101,500],[$Selling expenses,,$20,500,18,500],[\backslash$table$[[$General and administrative$]],,9,800,8,800],[$Interest expense,,$2,100,2,100],[$Income tax expense,,$20,000,16,600],[$Total expenses,,

$177,800,147,500],[$Net income,,$$40,900,$$$34,700$