Use the following information to answer the questions below.
CATERPILLAR INC. Statement of Income for a Recent Year
Total sales and revenues
......................................................................................
$55,184,000
Less: Cost of products sold
...................................................................................
$40,391,000
Gross profit
.......................................................................................,....................
$ 14,793,000
Less: Operating costs :
Selling, general, and administrative expenses
................................................ $ 5,697,000
Research and development expenses
............................................................
$2,135,000
Other operating expenses
...............................................................................
$1,633,000
Total operating costs
.............................................................................................
$ 9,465,000
Operating profit
.....................................................................................................
$ 5,328,000
Less: Other expenses
............................................................................................
245,000
Consolidated profit before taxes
.............................................................................