During the year, cost of goods sold was $120,000; income from operations was $114,000; income tax expense

Question:

During the year, cost of goods sold was $120,000; income from operations was $114,000; income tax expense was $24,000; interest expense was $18,000; and selling, general, and administrative expenses were $66,000.


Required:
Calculate net sales, gross profit, income before taxes, and net income.

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