Income Statement The accountant for Dolfin Company prepared the following income statement. The auditor has asked you to use this statement to provide additional information to Dolfin Company on the Final Questions panel. Dolfin Company Income Statement For the Year Ended December 31, 2020 Sales $317,340.00 Expenses: Cost of merchandise sold $215,791.20 Selling expenses 41,254.20 Administrative expenses 34,907.40 Interest expense 275.00 Total expenses 292,227.80 Net income $25,112.20 Final Questions The auditor has asked you to prepare additional information about Dolfin Company's results for last year. Use the data shown on the income statement in your computations. 1. Compute the operating expenses for Dolfin Company. 2. Compute the gross profit for Dolfin Company. 3. Compute the income from operations for Dolfin Company