Trident Food Corporation Trident Food Corporation generated the following income statement for the most recent fiscal year, which ended December 31, 2010: Sales revenues $150,000 Variable cost of sales (112,500 Gross profit 37,500 Fixed operating costs (24,000) Net operating income (EBIT) 13,500 Interest (10,000) Earnings before taxes 3,500 Taxes (40%) (1.400) Net income 2.100 Each item of inventory Trident Foods produces has a selling price of $20. Trident Food Corporation Trident Food Corporation generated the following income statement for the most recent fiscal year, which ended December 31, 2010: Sales revenues $150,000 Variable cost of sales (112,500 Gross profit 37,500 Fixed operating costs (24,000) Net operating income (EBIT) 13,500 Interest (10,000) Earnings before taxes 3,500 Taxes (40%) (1.400) Net income 2.100 Each item of inventory Trident Foods produces has a selling price of $20