(Use 365 days a year. Round your intermediate calculations and final answers to 1 decimal place.)

The following income statement and balance sheets for Virtual Gaming Systems are provided VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2018 Net sales Cost of goods sold $3,056,000 1,954,000 Gross profit 1,102,000 Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense $862,000 29,000 8,400 17,000 52,000 Total expenses 968,400 Net income 133,600