5.4 Completing the Accounting Cycle A company has net sales of $480,000 and cost of goods sold of $315,000. The company also has rent revenue of $20,000 and interest expense of $9,000. If the balance in its Income Summary account immediately before it is closed to the owner's capital account is a credit of $62,000, then how much are the operating expenses? cannot be determined with the information provided $114,000 $238,000 $176,000