The comparative statements of Cullumber Company are presented here. CULLUMBER COMPANY Income Statements For the Years Ended December 31 2022 2021 Net sales $2,400,400 $2,240,000 Cost of goods sold 1,327,000 1,307,800 Gross profit 1,073,400 932,200 Selling and administrative expenses 650,000 622,700 Income from operations 423,400 309,500 Other expenses and losses Interest expense 28,600 26,000 Income before income taxes 394,800 283,500 Income tax expense 118,440 85,050 Net income $276,360 $ 198,450