ome Compaq/Downloads/PR-Critical%20Thinking%20Assignment.pdf (2) Deductive reasoning skill: Deductive reasoning is a logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true. Please watch the video clip provided on Deductive Reasoning Do the following problems (Q1 - Q5) and then, answer the last question (Q6) using the deductive reasoning skill. Use the following information to answer the following questions. ABC, Inc. Income Statement (in thousands) December 31, 2014 S200,000 140,000 60,000 Sales Cost of goods sold Gross profit on sales Operating expenses Operating income (EBIT) Interest expense Earnings before tax Income tax Net income available to common stockholders $1950 4,000 1000 3,000 L050