During the year, net sales were $400,000; gross profit was $160,000; net income was $60,000; income tax
Question:
During the year, net sales were $400,000; gross profit was $160,000; net income was $60,000; income tax expense was $15,000; and selling, general, and administrative expenses were $73,000.
Required:
Calculate cost of goods sold, income from operations, income before taxes, and interest expense.
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