Seaforce Manufacturing Inc. Income Statement Year Ended December 31, 20X5 Sale Cost of goods sold Gross Profit Operating Expenses Loss on Sale of equipment Profit from Operations Other expenses Interest Expense Profit before Income Tax Income Tax Expense Profit $340,000 $250,100 $ 89,900 $55,000 $ 2,500 $ 57,500 $ 32,400 $ 3,500 $ 28,900 12,000 $ 16,900 Additional Information: