The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales $1,811,500 $1,751,600 Cost of goods sold 1,013,400 985,000 Gross profit 798,100 766,600 Selling and administrative expenses 515,200 477,800 Income from operations 282,900 288,800 Other expenses and losses Interest expense 18,600 14,300 Income before income taxes 264,300 274,500 Income tax expense 83,043 77,600 Net income $181,257 $196,900