Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net sales	$ 353,792	$ 206,320	$ 179,373
Cost of sales	263,532	155,206	134,689
Gross profit	90,260	51,114	44,684
Selling, general, and administrative expenses	45,796	29,480	27,493
Acquisition costs	1,027	430	0
Change in fair value of contingent consideration	(9,837)	0	0
Gain on sale of Molded Fiber business	(15,651)	0	0
(Gain) loss on sales of property, plant and equipment	(6,149)	(14)	459
Operating income	55,400	21,218	16,732
Interest expense, net	2,763	39	83
Other (income) expense	(81)	(26)	366
Income before income tax provision	52,718	21,205	16,283
Income tax expense	10,929	5,319	2,914
Net income	$ 41,789	$ 15,886	$ 13,369
Basic (in dollars per share)	$ 5.52	$ 2.11	$ 1.79
Diluted (in dollars per share)	$ 5.45	$ 2.09	$ 1.77
Weighted average common shares outstanding:
Basic (in shares)	7,564	7,524	7,484
Diluted (in shares)	7,663	7,615	7,568
Comprehensive Income
Net income from consolidated operations	$ 41,789	$ 15,886	$ 13,369
Other comprehensive income:
Foreign currency translation adjustment	(610)	0	0
Other comprehensive loss	(610)	0	0
Comprehensive income	$ 41,179	$ 15,886	$ 13,369

This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 25
-Paragraph 23
-URI https://asc.fasb.org/extlink&oid=123586518&loc=d3e1043-128460