Use the Following Information to Analyze BobKat Equipment Sales

question 42

Essay

Use the following information to analyze BobKat Equipment Sales.Calculate any profit measures deemed necessary in order to discuss the profitability of the company. BobKat Equipment Sales
Income Statement
For the Years Ended Dec. 31,2015 and 2014
$\begin{array}{lrr}&2015&2014\\\text { Net sales } & \$ 124,000 & \$ 138,000 \\\text { COGS } & 90,000 & 95,000 \\\text { Gross profit } & \$ 34,000 & \$ 43,000 \\\text { General and administrative expenses } & 31,000 & 36,000\\\text { Operating profit } & \$ 3,000 & \$, 000 \\\text { Interest expense } & \$(1,000) & (1,000) \\\text { Earnings before taxes } & \$ 2,000 & \$ 6,000 \\\text { Income taxes } & 800 & 1,800\\\text { Net income }&\$1,200&\$4,200\end{array}$

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