The accountant of Vaughn Shoe has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2022. Rent revenue 31,320 Interest expense 19,440 Unrealized gain on equity securities designated at fair value through other comprehensive income, net of tax 33.480 Selling expenses 151,200 Income tax 33,048 Administrative expenses 195,480 Cost of goods sold 557,280 Net sales Cash dividends declared Loss on sale of plant assets 1,058,400 17,280 16,200 There were 20,000 ordinary shares outstanding during the year.