The comparative statements of Bramble Interiors Ltd. are presented as follows: Interiors BRAMBLE INTERIORS LTD. Income Statement For the Year Ended December 31 2021 2020 Net sales $2,159,750 $1,836,500 Cost of goods sold 1,145,000 1,019,500 Gross profit 1,014,750 817,000 Selling and administrative expenses 500,000 491,000 Income from operations 514,750 326,000 Other expenses and losses Interest expense 14,000 16.000 Income before income taxes 500.750 310.000 Income tax expense 108,275 82,000 Profit $392,475 $228,000