WAHLBERG COMPANY Income Statements For the Years Ended December 31 2019 2018 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,890,540$1,750,500 1,006,000 744,500 479,000 265,500 1,058,540 832,000 500,000 332,000 20,000 245,500 73,000 $ 218,000 S 172,500 22,000 310,000 92,000 Interest expense Income before income taxes Income tax expense Net incomc WAHLBERG COMPANY Balance Sheets December 31 2019 2018 Assets Current asscts S60,100 S 64,200 50,000 Cash Debt investments (short-term) 74,000