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During the year, net sales were $135,000; gross profit was $55,000; net income was $22,500; income tax expense was $5,500; and selling, general, and administrative
During the year, net sales were $135,000; gross profit was $55,000; net income was $22,500; income tax expense was $5,500; and selling, general, and administrative expenses were $24,500. Required: Calculate cost of goods sold, income from operations, income before taxes, and interest expense
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