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Jake's Delivery Service had the following income and exepenses in 2018: Sales $700,000, COGS $500,0000, Expenses $75,000, Interest $10,000, Taxes $15,000. Require (show all work

Jake's Delivery Service had the following income and exepenses in 2018:

Sales $700,000, COGS $500,0000, Expenses $75,000, Interest $10,000, Taxes $15,000.

Require (show all work for partial credit):

1. What is Jake's net income for 2018?

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