Chapter 02-Homework Saved Help Save & Exit Submit Check my work 1.81 6 points Sapped Mini-Exercise 4-5 (Aigo) understanding income statement relationships LU 2-4, 2-3 During the year, net sales were $141,000; gross profit was $58,000; net income was $24,000; income tax expense was $5,800; and selling, general, and administrative expenses were $26,000. Required: Calculate cost of goods sold, income from operations, income before taxes, and interest expense. ME Graw Income Statement Not sales $ 141,000 Cost of goods sold Gross profit $ 50,000 Selling, general, and administrative expenses 26,000 Income from operations Interest expense Income before taxes Income tax expense Net income 5,000 S 24,000 < Prev 6 of 11 Next >