Track Inc Income Statement For the Year Ended December 31, 2019 $300,000 4,000 304,000 Revenues Gain on sale of land Total revenues Expenses: Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net Income 127.000 25,000 40,000 16,000 12,000 220,000 $84,000 Track Inc Income Statement For the Year Ended December 31, 2019 $300,000 4,000 304,000 Revenues Gain on sale of land Total revenues Expenses: Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net Income 127.000 25,000 40,000 16,000 12,000 220,000 $84,000