In its income statement for the year ended December $31,2022,$

Cullumber Company

reported the following condensed data.

Salaries and wages expenses

$

$381,300$

Loss on disposal of plant assets

$

$66,800$

Cost of goods sold

$789,600$

Sales revenue

$1,768,000$

Interest expense

$56,800$

Income tax expense

$20,000$

Interest revenue

$52,000$

Sales discounts

$128,000$

Depreciation expense

$248,000$

Utilities expense

$88,000$