Selling, general, and administrative expenses were $70,000; net sales were $318,000; Interest expense was $7,500; research and development expenses were $33,100; net cash provided by operating activities was $83,200; Income tax expense was $8,000, cost of goods sold was $173,800. Required: a. Calculate operating Income for the period. Operating expenses: b. Calculate net Income for the period. Interest expense Income tax expense