The income statement, balance sheets, and additional information for Video Phones, Incorporated, are provided.

$\backslash$table$[[$VIDEO PHONES, INCORPORATED$],[$Income Statement,,$],[$For the Year Ended December,$31,2024,],[$Net sales,,$],[$Expenses:$,$$$1,600,000,],[$Cost of goods sold,$788,000,],[$Operating expenses,$20,000,],[$Depreciation expense,$7,300,],[$Loss on sale of land,$11,500,],[$Interest expense,$41,000,],[$Income tax expense,,$2,467,800$