Question $7$: Analyse the Financial Statement below and make comments.

$\backslash$table$[[\backslash$table$[[$Village Shipping Inc.$],[$Income Statement Horizontal Analysis$],[$For the years ending December $31,2014]],,,],[$and December $31,2015,,,\backslash$table$[[\%$ Change$],[2015$ from$]]],[,2014,2015,2014],[$Sales$,500,000,475,000,-5\mathrm{.}00\%],[$Cost of goods sold,$269,000,265,000,-1\mathrm{.}49\%],[$Gross profit,$231,000,-9\mathrm{.}09\%,],[,,,],[$Wages$,163,000,154,000,-5\mathrm{.}52\%],[$Repairs$,4,150,5,000,39\mathrm{.}76\%],[$Rent$,12,000,13,000,8\mathrm{.}33\%],[$Taxes$,17,930,16,940,-5\mathrm{.}52\%],[$Office expenses,$587,1,023,14\mathrm{.}14\%],[$Total expenses,$33,667,190,763,-3\mathrm{.}49\%],[$Net Income,,$19,237,-42\mathrm{.}29\%]]$