The comparative statements of Ivanhoe Company are presented here. IVANHOE COMPANY Income Statements For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross profht Selling and administrative expenses Income from operations Other expenses and losses $1,897,540 1,065,540 832,000 507,000 325,000 $1,757,500 1,013,000 744,500 486,000 258,500 Interest expense Income before income taxes Income tax expense Net income 24,100 300,900 94,100 $ 206,800 22,100 236,400 75,100 $161,300