The statement of income for Accustart Ltd. is shown below: ACCUSTART LTD. Statement of Income Year Ended December 31 (in millions) 2021 2020 2019 Sales $1,606 $1,406 $1,207 Cost of goods sold 897 745 595 Gross profit 709 661 612 Operating expenses 519 408 404 Income from operations 190 253 208 Interest expense 80 50 40 Income before income tax 110 203 168 Income tax expense 25 51 42 Net income $85 $152 $126 Sales Cost of goods sold Gross profit Operating expenses ACCUSTART LTD. Horizontal Analysis of Statement of Income (% of base-year amount) Year Ended December 31 2021 % 2020 2019 % % % % % % Income from % operations Interest expense % Income before income tax Income tax expense Net income % % %