A company reports the following info: COGS $427,600; sales revenue $1,235,000; common stock $120,000; gain on sale of old delivery truck $1,200; sales returns $17.400; depreciation expense on equipment $82,400; dividends paid to shareholders $10,000: Salary expense$280,000. Income tax rate is 25%. Calculate income from operations. a. $427,600 b. $428,800 c. $321,600 d. $311,600