The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales $1,810,600 $1,746,200 Cost of goods sold 1,012,200 984,000 Gross profit 798,400 762,200 Selling and administrative expenses 515,200 479,600 Income from operations 283,200 282,600 Other expenses and losses Interest expense 17,300 13,300 Income before income taxes 265,900 269,300 Income tax expense 81,100 76,300 Net income $184,800 $193,000 Wahlberg Company Balance Sheets