The comparative statements of Lily Company are presented here. Lily Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,810,600 $1,752,800 Cost of goods sold 1,010,100 994,000 Gross profit 800,500 758,800 Selling and administrative expenses 520,200 475,800 Income from operations 280,300 283,000 Other expenses and losses Interest expense 17,400 13,400 Income before income taxes 262,900 269,600 Income tax expense 79,444 77,100 Net income $183,456 $ 192,500