Blossom Corporation reports the following information: sales $ 1,600,000; cost of goods sold $ 320,000; administrative expenses $ 96,000; selling expenses $ 64,000; dividend income $ 9,600; other expenses $8,000; and income tax expense $ 12,000. Assuming Penny uses a multiple-step statement of income calculate the following: Gross Profit 1.200,000 Income from Operations 1,120,000 Income before Income Tax $ V Net Income $