During the year, net sales were $145,000; gross profit was $60,000; net income was $25,000; income tax expense was $6,000; and selling, general, and administrative expenses were $27,000. Required: Calculate cost of goods sold, income from operations, income before taxes, and interest expense. Income Statement Net sales Cost of goods sold Gross profit Selling, general, and administrative expenses Income from operations Interest expense Income before taxes Income tax expense Net income $ $ $ 145,000 60,000 27,000 6,000 25,000

During the year, net sales were $145,000; gross profit was $60,000; net income was $25,000; income tax expense was $6,000; and selling. general, and administrative expenses were $27,000. Required: Calculate cost of goods sold, income from operations, income before taxes, and interest expense