Income statement in $ Sales COGS Gross profit 800000 300000 Operating expenses 200000 EBIT Interest expenses 50000 EBT Taxes Net Income 20% Consider the above income statement and answer the following questions: Consider the above income statement and answer the following questions: a. Calculate the value of the cost of goods sold (COGS). $ COGS = + Calculation details (recommended): b. Calculate the value of the EBIT. $ EBIT = Calculation details (recommended)