Here is the income statement for Sunland, Inc. Sunland, Inc. Income Statement For the Year Ended December 31, 2022 Net sales $430,000 Cost of goods sold 200,000 Gross profit 230,000 Expenses (including $10,000 interest and $23,000 income taxes) 103,000 Net income $127,000 Additional information: 1. Common stock outstanding January 1, 2022, was 27,750 shares, and 31,750 shares were outstanding at December 31, 2022 (Use a simple average for weighted-average.) The market price of Sunland stock was $28 on December 31, 2022 2 3. Cash dividends of $28,140 were declared and paid.