Exercise 5-12 a-e In 2020, Blue Company had net sales of $977,000 and cost of goods sold of $635,050. Operating expenses were $221,900, and interest expense was $12,700. Blse prepares a multiple-step income statement. Compute Biue's gross pront Gross profit s 341950 Compute the gross profit rate Gross profit rate What is Blue's income from operations and net income? Income from operations Net income