Part 3: Calculate the five critical subtotals in the multistep income statement based on the information provided in this table: Sales 1,150,000 Sales returns 10,000 Sales discounts 5,000 Cost of Goods Sold 410,000 Total Operating 300,000 Expenses Interest Income 6,000 Interest Expense 12,000 Income Tax Expense 12,000 Amount: a. Net Sales b. Gross Profit c. Income From Operations d. Income Before Taxes e. Net Income Fill in the blanks. If costs are rising, then...... 1) FIFO COGS is (greater or less than) LIFO COGS 2) FIFO ending inventory is (greater or less than) LIFO ending inventory 3) Net Income for a company using FIFO will be (greater or less than) a company that uses LIFO If ending inventory is understated: (Fill in with overstated or understated): 4) COGS is 5) Net Income is 6) Ending Retained Earnings are 7) Stockholder's Equity is 8)Assets are