AG Network Inc.'s balance sheet and income statement are as follows: Sales LAG Network Inc. Income Statement For Year Ended December 31, 2020 Cost of goods sold Gross profit Operating expenses: Depreciation expense Other expenses Total operating expenses Profit from operations Income taxes Profit $ 25,200 239,800 $ 935,600 563,200 $ 372,400 265,000 $ 107,400 25,600 $ 81,800