The following is the comparative statement of income for Steering Corporation: STEERING CORPORATION Statement of Income Year Ended December 31 2022 2021 Sales $ 60?,000 $ 523,000 Cost of goods sold 46?,390 442,981 Gross prot 139,610 80,019 Operating expenses 98,910 44,9?8 Income before income tax 60,?00 35,041 Income tax expense 6,0?0 4,184 Net income $ 54,630 55 30,85? STEERING CORPORATION Statement of Income Year Ended December 31 Increase or {Decrease} During 2022 2022 2021 Amount Percentage sales $607,000 $523,000 $ % Cost of goods sold 467,390 442,981 % Gross prom 139,610 80,019 % Operating expenses 78,910 44,978 % Income before income tax 60,700 35,041 % Income tax expense 6,070 4,184 % $ % Net income $54,630 $30,857