In its income statement for the year ended December 31, 2022, Sheffield Corp, reported the following condensed data. Operating expenses Cost of goods sold Interest expense Income tax expense $725,000 1,261,000 76,000 50,000 Interest revenue Loss on disposal of plant assets Net sales Other comprehensive income (net of $1,200 tax) $ 38,000 22,000 2,204,000 8,800 Sheffield Corp. Income Statement For the Year Ended December 31, 2022 Net Sales 2204000 Cost of Goods Sold 1261000 i Gross Profit 943000 Operating Expenses 725000 i Income From Operations 218000 Other Revenues and Gains Interest Revenue 38000 Other Expenses and Losses Interest Expense $ 76000 Loss on Disposal of Plant Assets 22000 Income before Income Taxes Income Tax Expense Net Income /(Loss) Sheffield Corp. Comprehensive Income Statement