Current
Prior
Sales
$20,916,000
$19,740,000
Cost of Sales
13,900,000
13,100,000
Gross margin
7,016,000
6,640,000
Operating costs and expenses:
Research
674,000
590,000
Selling
3,089,000
2,917,000
General and Administrative
1,761,000
1,706,000
Total operating costs and expenses
5,524,000
5,213,000
Operating income
1,492,000
1,427,000
Interest expense
220,000
215,000
Income before income taxes
1,272,000
1,212,000
Income taxes
267,120
254,520
Net income
$1,004,880
$957,480