Problem 13-2A The comparative statements of Wahlberg Company are presented here WAHLBERG COMPANY Income Statements For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,890,540 $1,750,500 1,058,540 1,006,000 744,500 479,000 265,500 832,000 500,000 332,000 Interest expense Income before income taxes Income tax expense Net income 20,000 245,500 73,000 $ 218,000$172,500 22,000 310,000 92,000