The 2018 income statement and comparative balance sheet of Sweet Valley, Inc. follow: SWEET VALLEY, INC. Income Statement Year Ended December 31, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: $445,000 203,200 241,800 Salaries Expense $ 77,400 Depreciation Expense-Plant Assets 14,500 Other Operating Expenses 10,100 Total Operating Expenses 102,000 Operating Income 139,800 Other Income and (Expenses): Interest Revenue 8,200 Interest Expense (21,100) Total Other Income and (Expenses) (12,900) Net Income Before Income Taxes 126,900 Income Tax Expense 19,400 Net Income $ 107,500