Please explain how to calculate Income tax expense and Net income. Thanks :)

! Required information [The following information applies to the questions displayed below.] Tisdale Incorporated reports the following amount in its December 31, 2018, income statement. Sales revenue Non-operating revenue Selling expenses General expenses $ 295,000 Income tax expense 109,000 Cost of goods sold 59,000 Administrative expenses 49,000 $ 29,000 189.000 39,000 Required: 1. Prepare a multiple-step income statement. (Losses should be indicated by a minus sign.) Answer is complete but not entirely correct. TISDALE INCORPORATED Multiple-step Income Statement For the year ended December 31, 2018 Sales revenue $ 295,000 Cost of goods sold 189,000 $ 106,000 Gross profit Selling expenses General expenses Administrative expenses 59,000 49,000 39,000 Total operating expenses Operating income (loss) Nonoperating revenue 147,000 (41,000) 109,000 Income before income taxes Income tax expense Net income 68,000 (38,000) 38,000 $