Here is the income statement for Bridgeport, Inc. BRIDGEPORT, INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $385,000 Cost of goods sold 220,000 Gross profit 165,000 Expenses (including $12,700 interest and $18,300 income taxes) 99,000 Net income $66,000 Additional information: 1. Common stock outstanding January 1, 2022, was 39,200 shares, and 45,600 shares were outstanding at December 31, 2022. 2. The market price of Gillman, Inc., stock was $16 in 2022. 3. Cash dividends of $14,900 were paid, $4,170 of which were to preferred stockholders.