Zach Industries Income Statement

for the Year Ended December, $31,2012$

Sales revenue $$159,600$

Less: Cost of goods sold $106,500$

Gross profits $$53,100$

Less: Operating expenses

Selling espense $$16,400$

General and administrative expenses $10,500$

Lease expense $1,020$

Depreciation expense $9,900$

Total operating expense $$37,820$

Operating profits $$15,280$

Less: Interest expense $6,200$

Net profits before taxes $$9,080$

Less: Taxes $4,310$

Net profits after taxes $$4,770$