Net Sales. Cost of Goods Sold Gross Profit from Sales Operating Expenses: December 31 2020 2019 294,000 $ 325,000 185,000 135,000 EA $ 109,000 $ 190,000 Selling 69 25,000 $ *55,000 General and Administrative 19,000 24,000 $ 44,000 $ 79,000 Total Operating Expenses Operating Income Less Interest Expense Income Before Taxes Income Taxes Net Income S SA 65,000 $ 111,000 6,500 6,700 58,500 104,300 23,400 41,720 35,100 $ 62,580