O'Shea Music Co Comparative Income Statements Years Ended December 31, 2016 and 2015 2016 2015 $ 1,080,000 $ 919,000 Total revenue Expenses Cost of goods sold Selling and general expenses Interest expense Income tax expense Total expenses $ 479,000 $400,450 263,000 14,500 86,850 764,800 $ 181,000 $ 154,200 289,000 24,500 106,500 899,000 Net income