During the year, cost of goods sold was $44,000; income from operations was $42,000; income tax expense was $8,400; interest expense was $6,400; and selling, general, and administrative expenses were $26,000. Required: Calculate net sales, gross profit, income before taxes, and net income. Net sales Income Statement Cost of goods sold 44,000 Gross profit Selling, general, and administrative expenses 26,000 Income from operations 42,000 Interest expense 6,400 Income before taxes i Income tax expense Net income 8,400