During the year, net sales were $153,000; gross profit was $64,000; net income was $27,000; income tax expense was $6,400; and selling, general, and administrative expenses were $29,000. Required: Calculate cost of goods sold, income from operations, income before taxes, and interest expense. Net sales Cost of goods sold Income Statement $ 153,000 Gross profit Selling, general, and administrative expenses Income from operations Interest expense Income before taxes Income tax expense Net income 64,000 29,000 6,400 $ 27,000