Financial statements - Income statement for 20X4 and Comparative Balance Sheet for diving equipment manufacturer Lincoln Corp for December 31, 20X4 and 20X3 Lincoln Corp. Income Statement as of December 31st, 20x4 Revenue $ 5,000 Cost of Goods Sold $ 3,200 Gross Profit $ 1,800 Operating expenses $ 1,350 Operating Profit $ 450 Loss on sale of equipment $ 20 Income tax expense 180 Profit for 2012 $ 250 Lincoln Corp. Balance Sheet December 31 20X4 20X3 Assets: Cash $ 2.350 $ 1.800