The comparative statements of Osborne Company are presented here. OSBORNE COMPANY Income Statements For the Years Ended December 31 2014 2013 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,898,042$1,758,002 1,013,502 744,500 486,502 257,998 1,066,042 832,000 507,502 324,498 Interest expense Income before income taxes Income tax expense Net income 23,309 301,189 93,309 $ 207,880 21,309 236,689 74,309 $ 162,380