CINNAMON AND SPICE, INC. Income Statement For the Year Ended December 31, 2018 Revenues $5,510,100 (1,699,900) $3,810,200 Sales Revenue Cost of Goods Sold Gross Margin Operating Expenses 1,314,900 482,200 Wages Expense Advertising and Promotion Expenses Other Selling and Administrative Total Operating Expenses 961,600 Operating Income Other Expenses 225,600 117,700 253,700 597,000 Interest Expense Income Tax Expense Other Expenses Total Other Expenses $22222222 Net Income Which of the statements below (A thru D) is correct? Other selling and administrative expenses are $1,051,500, and net income is ($950,300) Other selling and administrative expenses are $364,600, and net income is $7,255,800 Other selling and administrative expenses are $3,081,000, and net income is $7,255,800. Other selling and administrative expenses are $1,051,500, and net income is $364,600