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VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2018 Net sales Expenses $3,436,000 Cost of goods sold Operating expenses Depreciation expense Loss

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VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2018 Net sales Expenses $3,436,000 Cost of goods sold Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense $2,250,000 918,000 33,000 8,600 18,000 54,000 Total expenses 3,281,600 Net income 154,400

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