Dolfin Company Income Statement For the Year Ended December 31, 2020 1 Sales $318,340.00 2 Expenses: Cost of merchandise sold $216,471.20 4 Selling expenses 41,384.20 UT Administrative expenses 35,017.40 6 Interest expense 275.00 7 Total expenses 293,147.80 8 Net income $25,192.20