4 The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales 20 points eBook Ask Print References Expenses: Cost of goods sold Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income $1,600,000 788,000 20,000 7,300 11,500 41,000 $2,636,000 2,467,800 $ 168,200