Please don't use symbols such as commas and the dollar sign (, $)when you write your answers

Use XYZ financial information to answer the questions below:

XYZ company

Income statement

for the year ended Dec 31, 2020

Sales

Cost of Goods Sold

$250000

Gross Profit

$150000

Operating Expenses

$70000

Operating Profit

Interest Expense

Earnings before tax

Tax expense ( 40% tax rate)

Net Income

$36000