Analysis of Activity Measures Based on the comparative income statement and balance sheet of Cowan Kitchen Counters, Inc., that follow: Cowan Kitchen Countars, Inc Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 20-1 Net Sales (all on account) Cost of goods sold Gross profit Operating expenses Other expense (interest) $2,597,300 1,863,100 $734,200 313,000 24,200 $2,166,900 1,626,800 $540,100 210,200 24,200 109,400 $196,300 ?)Income tax expense Net income $223,600 Cowan Kitchen Counters, Inc. Comparative Balance Sheet December 31, 20-2 and 20-1 20-2 20-1 $257,000 $242,200 Cash Government notes Accounts receivable (net) 248,600 907,400 248,600 797,900 Check My Work 1 more Check My Work uses remaining