Table T-5.5
Merck & Co., Inc.
Normalized Income Statement
	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989
Sales	100	100	100	100	100	100	100	100	100	100
Cost of Goods Sold	52	50	47	45	40	24	22	22	23	24
Gross Profit	48	50	53	55	60	76	78	78	77	76
Operating Expenses	27	25	27	28	29	39	42	41	42	42
Operating Profit	21	25	26	28	31	37	36	36	35	34
Interest	0	0	0	0	0	0	0	0	0	0
Other	-9	-3	-2	-1	1	8	-1	-1	-1	-1
Profit before tax	30	27	28	29	29	30	37	37	35	35
Tax	11	8	8	9	9	9	12	12	12	12
Profit after tax	20	20	20	20	20	21	25	25	23	23