Using the Consolidated Statements of Operations of the following company analyze the following and show your formulas you used in excel.

(a) Find theefective tac rates for the years 2015, 2014, and 2013

(b) Find the growth rates of sales and total operating costs.

For the year ended

May 31, 2015 May 31, 2014 May 31, 2013

Net sales $3,90 $6,350 $2,530

Cost of goods sold 3,790 3,120 1,940

Gross profit 110 3,230 590

Selling, G&Admistraive 577 418 310

Research and development 512 398 331

Operating income (loss) (979) 2,414 (51)

Interest income 129 109 87

Interest expense (15) (87) (130)

Income before taxes (865) 2,436 (94)

Income tax benefit 383 (801) 36

Income(loss)from

continuing operations (482) 1,635 (58)

Loss on discontinued

operations (32) (50) (8)

Loss on disposal of

operations (63) 0 0

Net loss from discontinued

operations (95) (50) (8)

Net income (loss) ($577) $1,585 ($66)