Safari File Edit View History Bookmarks Window Help B - () 11% Sat 3:27 PM Amanda Sawah ezto.mheducation.com MyHarper | Students M Question 2 - Chapter 16 Assignment - Connect Chapter 16 Assignment i Saved Help Save & Exit Submit Check my work N Complete the comparative income statement and balance sheet for Logic Company. (Input all answers as positive values except decrease answers which should be indicated by a minus sign. Round your "percent" answers to the nearest hundredth percent.) LOGIC COMPANY 5.55 points Comparative Income Statement For Years Ended December 31, 2019 and 2020 Increase (Decrease) eBook 2020 2019 Amount Percent Print Gross sales 22,200 A 17,400 Sales returns and allowances 900 100 References Net sales 21,300 17,300 Cost of merchandise (goods) sold 11,200 8,050 Gross profit 10,100 9,250 Operating expenses: 4 Depreciation 760 Selling and administrative 4,600 3,600 Research 870 660 Miscellaneous 680 Total operating expenses 7,170 $ 5,480 Income before interest and taxes 2,930 3,770 Interest expense 880 660 Income before taxes 2,050 $ 3, 110 Provision for taxes 820 1,244 1.230 $ 1,866 Net income Mc Graw Hill istv