The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 201 AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 2017 2018 2017 Sales $10,000,000 19,400,000 Cost of goods sold (5,350,000) (4,950,000) Gross profit Selling expenses $4,650,000 $4,450,000 $(2,000,000) $1,880,000) Administrative expenses (1,500,000) (1,410,000) Total operating expenses - Operating income $ (3,500,000) $1,150,000 (3.290,000) $1,160,000 Other revenue and expense. Other revenue 150,000 140,000 Other expense (interest) (170,000) (150,000) Income before income tax $1,130,000 $1,150,000 Income tax expense (230,000) (225,000) $900,000 $925,000 Net income Previous