Sales Operating expense Net income Sales returns & allowances $700,000 221,575 48,800 25,000 282,825 250 Gross profit Interest expense 34. $ Calculate Net sales: 35. $ Calculate Cost of Goods Sold I 36. $ 37. $ 38. 39. Calculate operating income Calculate Income before Income tax (IBT) %. Calculate the gross profit margin (one decimal place) %. Calculate the net profit margin (one decimal place)