Here is the income statement for Concord, Inc. Concord, Inc. Income Statement For the Year Ended December 31, 2022 Net sales $434,000 Cost of goods sold 190,000 Gross profit 244,000 Expenses (including $10,000 interest and $20,000 income taxes) 91,000 Net income $153,000 Additional information: 1. Common stock outstanding January 1, 2022, was 34,250 shares, and 38,250 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Concord stock was $28 on December 31, 2022 3. Cash dividends of $22,400 were declared and paid.