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 $1,752,200 Cost of goods sold 1,008,900 982,000 Gross profit 802,600 770,200 Selling and administrative expenses 518,600 472,800 Income from operations 284,000 297,400 Other expenses and losses Interest expense 17,800 13,800 Income before income taxes 266,200 283,600 Income tax expense 80,152 76,400 Net income $186,048 $207,200