For 20y2, tri-comic company initiated a sales promotion campaign that included the expenditure of an additional $50,000 for advertising. at the end of the year, lumi neer, the president, is presented with the following condensed comparative income statement: tri-comic company comparative income statement for the years ended december 31, 20y2 and 20y1 20y2 20y1 sales $ 1,500,000 $ 1,250,000 cost of goods sold (510,000) (475,000) gross profit $ 990,000 $ 775,000 selling expenses $ (270,000) $ (200,000) administrative expenses (180,000) (156,250) total operating expenses $ (450,000) $ (356,250) operating income $ 540,000 $ 418,750 other revenue 60,000 50,000 income before income tax expense $ 600,000 $ 468,750 income tax expense (450,000) (375,000) net income $ 150,000 $ 93,750