The comparative statements of Pharoah Company are presented here. PHAROAH COMPANY Income Statements For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,893,940 $1,753,900 1,009,400 744,500 482,400 262,100 1,061,940 832,000 503,400 328,600 Interest expense Income before income taxes Income tax expense Net income 24,100 304,500 94,100 $ 210,400 22,100 240,000 75,100 $ 164,900