ncial accounting practice problems During the year, net sales were $125,000, gross profit was $50,000; net income was $20,000, income tax expense was $5,000; and selling, general, and administrative expenses were $22,000 Required: Calculate cost of goods sold, income from operations, income before taxes, and interest expense Hint Net sales Cost of goods sold Gross profit Selling, general, and administrative expenses22.000 Income from operations Interest expense Income before taxes Income tax expense Net income S 125,000 Print 50,000 ferences 5,000 S 20,000