Aav E 21 AaBbCcDdEe AaBbCcDdEe t Normal No Spacing Heading 1 Heading 2 Title AXEL CORPORATION Income Statement For the Year Ended December 31,2021 $592,000 32,000 86,000 710,000 Revenue and gains: Sales revenue Interest revenue Gain on sale of investments Total revenue and gain Expenses and losses: Cost of goods sold Selling expenses Administrative expenses interest expenses Restructuring costs Income tax expense Total expense and losses Net Income $325,000 67,000 87,000 16,000 55,000 40,000 590,000 $ 120,000 Additional Information: On December 31,2021, the company sold one of its divisions (a separate component defined by GAAP). On the date of sale the book value of this division was $ 100,000 and the Fair value less costs to sell was $150,000. The pretax gain from operations from the division for the year was $ 90,000. nnnnn throughout the mar Aav E 21 AaBbCcDdEe AaBbCcDdEe t Normal No Spacing Heading 1 Heading 2 Title AXEL CORPORATION Income Statement For the Year Ended December 31,2021 $592,000 32,000 86,000 710,000 Revenue and gains: Sales revenue Interest revenue Gain on sale of investments Total revenue and gain Expenses and losses: Cost of goods sold Selling expenses Administrative expenses interest expenses Restructuring costs Income tax expense Total expense and losses Net Income $325,000 67,000 87,000 16,000 55,000 40,000 590,000 $ 120,000 Additional Information: On December 31,2021, the company sold one of its divisions (a separate component defined by GAAP). On the date of sale the book value of this division was $ 100,000 and the Fair value less costs to sell was $150,000. The pretax gain from operations from the division for the year was $ 90,000. nnnnn throughout the mar