The following income statement and balance sheets for The Athletic Attic are provided. THE ATHLETIC ATTIC Income Statement For the year ended December 31, 2021 Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income $8,820,000 5,410,000 3,410,000 $1, 560, 000 202,000 42,000 352, 000 2,156,000 $1,254,000