Sales$$591,600$Cost of goods sold$346,800$Gross profit$244,800$Operating expenses$ $97,920$Depreciation expense$25,500123,420$Profit from operations$121,380$Other revenues and expensesGain on sale of land$35,700$Profit before income tax$157,630$Income tax expense$38,760$Profit for the year$$118,3200\mathrm{.}6/1$Additional information:$1\mathrm{.}2\mathrm{.}3.$Accounts receivable decreased by $$15,300$ during the year.Inventory increased by $$7,140$ during the year.Prepaid expenses decreased by $$5,100$ during the year$\mathrm{.}4.$ Accounts payable to suppliers increased by $$10,200$ during the year.