Part 3: 1. Calculate the five critical subtotals in the multistep income statement based on the information provided in this table: Sales Sales returns 840,000 14,000 Sales discounts 7,000 Cost of Goods Sold 375,000 Total Operating 235,000 Expenses Interest Income 8,000 Interest Expense 16,000 Income Tax Expense 40,000 a. Net Sales b. Gross Profit c. Income From Operations d. Income Before Taxes e. Net Income Amount: