only answer questions 26-30!!

Use the following to answer questions 23 - 30 JR Corp. reported the following income statement results: Sales Sales returns & allowances Gross profit Operating expense Gain on sale of equipment Net Income $998,200 18,200 390,040 294,700 15,000 84,280 23. $ Calculate Net sales 24. $ Calculate Cost of Goods Sold 25. $ Calculate operating income 26. $. _Calculate Income before Income tax (IBT) 27. $ Calculate Income tax expense ------% Calculate the gross profit margin (one decimal place) 29 %. Calculate the net profit margin (one decimal place) 28. 30. $ determine IBT Assume the company had a loss on the sale of equipment of $10,000 instead of a gain