Use the amounts provided to construct an income statement for the fiscal year ended 2016. Use appropriate headings & subtotals.

Use the income statement to calculate:

- Gross Profit as a % of Sales

- Net Income as a % of Sales

Balance as of Dec 31 2016 Account Name in thousands Accounts Payable $78,363 Other Current Liabilities $127,129 Long Term Liabilities $341,817 Cash and Cash Equivalents $87,880 Salaries and Payroll Payable $76,301 Inventory $15,019 $326,806 Net Cash from Investing Activities Prepaid Assets $49,188 $4,172 Interest Revenue Property, Plant and Equipment (net) $1,303,558 Long Term Investments $125,055 Other Long Term Assets $75,116 Contributed Capital ($818,318) Retained Earnings (As of 12/31/2015) $2,197,873 $3,904,384 Revenue $3,406,170 Restaurant Operating Costs (Cost of Goods Sold) Short Term Investment Assets $329,836 General and Administrative Expenses $276,240 ($836,173) Net Cash from Financing Activities $17,162 Pre Opening Expenses Loss on Disposal of Operating Assets (This is an expense) $23,877 Depreciation Expense $146,368 $15,801 Income Tax Expense Cash at Beginning of Period (12/31/2015) $248,005 $349,242 Net Cash from Operating Activities $40,451 Accounts Receivable