QUESTION 7 Lenox, Inc. has an income tax rate of 20%. During the first quarter of 2018, Lenox reports the following activities: Gross revenue of $475,000. Sales returns of $3,600. Sales discounts of $6,400. Cost of goods sold of $242,600. Wage expense of $127,200. Total other operating expenses (depreciation, utilities, etc.) of $83,500. A gain on the sale of used equipment of $3,400. . 1. What is Lenox's net revenue for the 1st quarter? $ 2. What is Lenox's gross profit for the 1st quarter? $ 3. What is Lenox's operating income for the 1st quarter? $ 4. What is Lenox's pretax income for the 1st quarter? $ 5. What is Lenox's income tax expense for the 1st quarter? $ 6. What is Lenox's net income after taxes for the 1st quarter? $