Question: This is a practice problem I am stuck on. If you could please describe what you did so I can better prepare it would be

This is a practice problem I am stuck on. If you could please describe what you did so I can better prepare it would be greatly appreciated.

The instructions is to document any unusual fluctuations in balances

CONSOLIDATED STATEMENTS OF INCOME-XYZ Company 2017 2016 2015 Revenues 26,534 $ 22,473 18,739 Cost of goods sold 18,201 18,161 15,406 Gross margin 8,333 4,312 3,333 Operating expenses 5,428 3,512 2,965 Operating income before 2,905 800 takes 368 Income takes 1,162 320 147 Net income 1,743 480 221

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