Study the 2014 income statement of Kristie s Imports Inc and
Study the 2014 income statement of Kristie’s Imports, Inc., and answer these questions about the company:

1. How much gross profit did Kristie’s Imports earn on the sale of its products in 2014? How much was income from continuing operations? Net income?
2. At the end of 2014, what dollar amount of net income would most sophisticated investors use to predict Kristie’s Imports’ net income for 2015 and beyond? Name this item, give its amount, and state your reason.
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