Question: Directions: Determine values for the missing items. Show all amounts as positive numbers even though expenses are subtracted on the income statement. Income Statement for

Directions: Determine values for the missing items. Show all amounts as positive numbers even though expenses are subtracted on the income statement. Income Statement for Year Ending Sales revenue Cost of sales December 31, 2015 ? 123,000 Gross profit 162,000 Expenses: Wages Advertising Depreciation Amortization Total expenses 15,000 ? 28,000 4,000 65,000 Operating profit 97,000 Interest Expense ? Income (loss) before taxes 88,000 Tax expense ? Net income 53,000

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