Sales $8,100,000 Cost of goods sold 4.500.000 3,600,000 Gross profit Operating expenses Income from operations 2.040,000 1,560,000 Interest expense 105.000 Income before income tax 1.455.000 Income tax expense 330.000 Net income $1,125,000 Additional information regarding 2021 1 Operating expenses include $74,000 of depreciation expense and a $110,000 impairment loss on property, plant, and equipment 2 Accounts receivable increased by $187.000 3 3 Inventory decreased by $50,000, Sales $8,100,000 Cost of goods sold 4.500.000 3,600,000 Gross profit Operating expenses Income from operations 2.040,000 1,560,000 Interest expense 105.000 Income before income tax 1.455.000 Income tax expense 330.000 Net income $1,125,000 Additional information regarding 2021 1 Operating expenses include $74,000 of depreciation expense and a $110,000 impairment loss on property, plant, and equipment 2 Accounts receivable increased by $187.000 3 3 Inventory decreased by $50,000