The spreadsheet below shows the net income model for a company that sells shoes. A B 1 Net Income Model 2 3 Data 4 5 Sales $10,000,000 6 Cost of Goods Sold $ 6,400,000 7 Administrative Expenses $ 500,000 8 Selling Expenses $ 900,000 9 Depreciation Expenses $ 750,000 10 Interest Expenses $ 70,000 11 Taxes $ 620,000 12 13 Model 14 15 Gross Profit $ 3,600,000 16 Operating Expenses $ 2,150,000 17 Net Operating Income $ 1,450,000 18 Earnings Before Taxes $ 1,380,000 19 20 Net Income Which of the following formulas would be used to calculate the net operating income? Group of answer choices

=B15-B16

=B15-B16+B6

=SUM(B6:B10)-B11

=B15-B5