(Solved by Humans)-Zach Industries Income Statement

Question

Zach Industries Income Statement for the Year Ended December 31, 2015 Sales revenue $160,000 Less: Cost of goods sold 106,000 Gross profits $ 54,000 Less: Operating expenses Selling expense $ 16,000 General and administrative expenses 10,000 Lease expense 1,000 Depreciation expense 10,000 Total operating expense $ 37,000 Operating profits $ 17,000 Less: Interest expense 6,100 Net profits before taxes $ 10,900 Less: Taxes 4,360 Net profits after taxes $ 6,540 Zach Industries Income Statement for the Year Ended December 31, 2015