Information from Minor Company's income statement for the year ended December 31, 2019 is shown below. Additional information from Minor Company's comparative balance sheet is also shown below. Sales........... $248,000 Cost of Goods Sold.............. 118,000 Gross Profit......... $130,000 Wages and Salaries Expense........ .48,000 Depreciation Expense... .30,000 Other Operating Expenses..... 24,000 Income from Operations..... $ 28,000 Gain on Sale of Equipment.......... 8,000