Question: Revenues $ 5 , 0 0 0 , 0 0 0 COGS $ 2 , 0 0 0 , 0 0 0 Gross Profits $

Revenues $5,000,000
COGS $2,000,000
Gross Profits
$3,000,000
Depreciation $500,000
EBIT $2,500,000
Interest $500,000
EBT $2,000,000
Taxes $500,000
Net Income $1,500,000
 
Refer to the income statement above. If we convert the income statement to a common size income statement, what should be entered for net income?

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