Was the company profitable for the most recent year? How do you know this? (Make sure to indicate the amount and which financial statement told you this information)ulta income statement 13 weeks ended Net sales $ 2,529,809 100.0% Cost of sales 1,536,197 60.7% Gross profit 993,612 39.3% Selling, general and administrative expenses 600,692 23.7% Pre-opening expenses 1,278 0.1% Operating income 391,642 15.5% Interest income, net (4,449) (0.2%)Income before income taxes 396,091 15.7% Income tax expense 95,989 3.8% Net income $ 300,102 11.9% Net income per common share: basic $6.05 diluted $6.02 26 weeks ended Net sales $ 5,164,072 100.0% Cost of sales 3,115,603 60.3% Gross profit 2,048,469 39.7% Selling, general and administrative expenses 1,212,821 23.5% Pre-opening expenses 1,936 0.0%Operating income 833,712 16.1%Interest (income) expense, net (11,797) (0.2%) Income before income taxes 845,509 16.4%Income tax expense 198,356 3.8% Net income $ 647,153 12.5% net income per common share basic $12.97 diluted $12.90

Answer rating: 100% (QA)

Net Sales Cost of Goods Sold COGS Gross Profit 5164072 Net Sales 3115603 COGS 2048469 Gross P... View the full answer