Presented below is an income statement for Kinder Company for the year ended December 31, 2022. Kinder Company Income Statement For the Year Ended December 31, 2022 Net sales 850,000 Costs and expenses: Cost of goods sold 640,000 Selling, general, and administrative expenses 70,000 Other, net 20,000 730,000 Income before income taxes 120,000 Income taxes 36,000 Net income 84,000 Additional information: 1. "Selling, general, and administrative expenses" included a charge of 7,000 for impairment of intangibles. 2. "Other, net" consisted of interest expense, 5,000, and a discontinued operations loss of 15,000 before taxes. If the loss had not occurred, income taxes for 2022 would have been 40,500 instead of 36,000. 3. Kinder had 20,000 ordinary shares outstanding during 2022.