The income statement for the current year is as follows:

Sales

Cost of goods sold

Gross profit

Operating expenses:

Depreciation expense:

Other operating expense

Total operating expense

Operating income

Other revenue and expense:

Gain on sale of investmemt

Interest expense

Income before income tax

Income tax expense

Net income

Additional data for the current years as follows:

Bonds payable for $$100,000$ were retired by payment at their face amount.

Cash dividends declared were paid, $$41,400.$

All sales were on account.