(Click the icon to view the December 31 account balances.) Read the requirements. Requirement 1,2,3, and 4 . To solve for the amounts required, prepare the incom Requirements Using the income statement accounts in the table, calculate: 1. Cost of goods sold. Hint: Cost of goods sold can be calculated by summing the total product costs since there is no inventory. 2. Operating expenses. Hint: Operating expenses are the company's period costs. 3. Gross profit 4. Operating income