In 2021, Culver Corporation reported sales of $270,500, cost of goods sold of $125,512, operating expenses...

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In 2021, Culver Corporation reported sales of $270,500, cost of goods sold of $125,512, operating expenses of $48,100, and income tax expense of $21,148. In 2020, it reported sales of $189,100, cost of goods sold of $122,915, operating expenses of $38,300, other revenues of $10,300, and income tax expense of $13,602. (a) Calculate the gross profit and net income for each year. Gross profit $ Net income $ 2021 2020 $ $ In 2021, Culver Corporation reported sales of $270,500, cost of goods sold of $125,512, operating expenses of $48,100, and income tax expense of $21,148. In 2020, it reported sales of $189,100, cost of goods sold of $122,915, operating expenses of $38,300, other revenues of $10,300, and income tax expense of $13,602. (a) Calculate the gross profit and net income for each year. Gross profit $ Net income $ 2021 2020 $ $

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