Insert Draw Formulas Data Review View Read Only-You can't save changes to this file. fr The Fred Proffet Company Condensed Income Statement and Statement of Retained Earnings For the Period: January 1 through December 31, This Year 6 7 SALES 8 Cost of Sales 9 Labor 10 PRIME COSTS 11 Other $5,200,000 1,560,000 3,016,000 1,404,000 12 Depreciation 13 OPERATING INCOME 14 Interest 675,000 S INCOME BEFORE INCOME TAXES 16 17 18 19 Income Taxes NET INCOME 433,000 173,000 260,000 STATEMENT OF RETAINED EARNINGS 20 21 Retained Earnings, December 31, Last Year 1,146,000 260,000 1,406,000 156,000 1,250,000 Net Income for This Year Subtotal Cash Dividends Paid This Year 23 24 25 Retained Earnings, December 31, This Year Q 1 Q 2 04 INTI Insert Draw Formulas Data Review View Read Only-You can't save changes to this file. fr The Fred Proffet Company Condensed Income Statement and Statement of Retained Earnings For the Period: January 1 through December 31, This Year 6 7 SALES 8 Cost of Sales 9 Labor 10 PRIME COSTS 11 Other $5,200,000 1,560,000 3,016,000 1,404,000 12 Depreciation 13 OPERATING INCOME 14 Interest 675,000 S INCOME BEFORE INCOME TAXES 16 17 18 19 Income Taxes NET INCOME 433,000 173,000 260,000 STATEMENT OF RETAINED EARNINGS 20 21 Retained Earnings, December 31, Last Year 1,146,000 260,000 1,406,000 156,000 1,250,000 Net Income for This Year Subtotal Cash Dividends Paid This Year 23 24 25 Retained Earnings, December 31, This Year Q 1 Q 2 04 INTI