Problem 13-02A (Video) The comparative statements of Sheridan Company are presented here: Sheridan Company Income Statements For the Years Ended December 31 Net sales 2020 $1,899,640 2019 $1,759,600 Cost of goods sold 1,067,640 1,015,100 Gross profit 832,000 744,500 Selling and administrative expenses 509,100 488,100 Income from operations 322,900 256,400 Other expenses and losses Interest expense 24,100 22,100 Income before income taxes 298,800 234,300 Income tax expense 94,100 75,100 Net income $204,700 $159,200