TB EX Qu. 12-168 (Algo) The income statement and balance sheets... The income statement and balance sheets for Worlds of Fun are provided below: WORLDS OF FUN Income Statement For the Year Ended December 31, 2024 Sales revenue Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense. Loss on sale of land Interest expense Income tax expense Total expenses Net income $2,360,300 1,500,000 860,300 349,000 64,000 4,300 21,000 54,000 492,300 $368,000