Directions: Create a % Change and Yr. 2 Common Size Income Statement for Dana Point. Use excel to do the calculations for you and don't round your answers. Dana Point Company Income Statement Yr 2 Income Common Size Yr 1 Income % Change Revenues Statement 11.6% $ 480,000 Yr 2 Statement $ 430,000 Cost of Goods Sold 4.2% $ 250,000 $ 240,000 Gross Profit 21.1% $ 230,000 $ 190,000 Derpeciation Expense 0.0% $ 22,000 $ 22,000 Wage expense 4.7% $ 90,000 $ 86,000 Insurance Expense 0.0% $ 16,000 $ 16,000 Operating profit 54.5% $ 102,000 $ 66,000 Interest Expense -2.9% $ 6,600 $ 6,800 Net income Before Tax 61.1% $ 95,400 $ 59,200 Tax expense 60.7% $ 28,600 $ 17,800 Net income 61.4% $ 66,800 $ 41,400