View Policies Show Attempt History Current Attempt in Progress 1 1 1 1 1 1 + Your answer is partially correct. Operating data for Concord Corporation are presented as follows. 2022 2021 Sales revenue $ 827,200 $ 626,800 Cost of goods sold 529,408 407,420 Selling expenses 119,944 75,216 Administrative expenses 70,312 50,144 Income tax expense 33,088 28,206 Net income 74.448 65,814 Condensed Income Statement For the Years Ended December 31 2021 2022 Amount Percent Amount Percent % % $ 626.800 Sales $ 827,200 % se 407,420 Cost of goods sold 529,408 % 219.380 % 297.792 Gross profit 96 96 75,216 Selling expenses 119,944 % % 70,312 50.144 Administrative expenses % % 125,360 Total operating expenses 190,256 96 26 94,020 Income before income taxes 107.536 33,088 X 28,206 Income tax expense $74.448 96 Net Income 5 65,814