Required information [The following information applies to the questions displayed below.] Income statement and balance sheet data for The Athletic Attic are provided below. THE ATHLETIC ATTIC Income Statements For the years ended December 31 2022 Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Interest expense. Income tax expense Total expenses Net income 2021 $10,820,000 $9,250,000 7,070,000 5,700,000 3,750,000 3,550,000 1,630,000 1,580,000 200,000 200,000 43,000 43,000 436,000 380,000 2,309,000 2,203,000 $ 1,441,000 $1,347,000