FOR THE YEAR ENDING DECEMBER 31, 2020 $339,075 Sales revenue Cost of goods sold Gross profit Operating expenses Operating income Interest expense Gain on sale of equipment Income before tax Income tax expense Net income Additional information: 1. 2. 3. 4. $11,300 2,000 175,000 164,075 119,900 44,175 9,300 34,875 6,975 $27,900 Dividends in the amount of $6,000 were declared and paid during 2020. Depreciation expense and amortization expense are included in operating expenses. No unrealized gains or losses have occurred on the investments during the year. Equipment that had a cost of $19,900 and was 70% depreciated was sold during 2020. 15.000 or in