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Note: In case you are not familiar with Boston Beer Company, here is their business description: The Boston Beer Company, Inc. and certain subsidiaries (the "Company") are engaged in the business of selling alcohol beverages throughout the United States and in selected international markets, under the trade names The Boston Beer Company," "Twisted Tea Brewing Company," "Angry Orchard Cider Company. "Hard Seltzer Beverage Company." Traveler Beer Co. the Angel City Brewing Company, the Concrete Beach Brewery and the Coney Island Brewing Company. This is Boston Beer's income statement. It is similar to Exhibit 2-14 on page 35 of our text. THE BOSTON BEER COMPANY, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in thousands, except per share data) Year Ended December 30, 2017 December 31, 2016 (53 weeks) December 26, 2015 Less excise taxes Cost of goods sold Operating expenses: $ 921,736 S 58,744 862,992 413,091 449,901 968,994 1,024,040 64,106 959,934 62,548 906,446 Net revenue 446 776 459,670 Gross profit 501,617 Advertising, promotional and selling expenses 258,649 73,126 2451 244,213 273,629 General and administrative expenses 78,033 71,556 Impairment (gain on sale) of assets, net Total operating expenses 345443 156,174 Operating income Other income (expense), net: 115,675 137,659 Interest income 549 168 (706) 56 Other expense, net (82) 467 116,142 (1,220) Total other income (expense), net (1.164) Income before provision for income tax 55,010 56.596 98,414 137,121 Provision for income taxes Net income 99,049 $ 87,349 $

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