The accountant for Dolfin Corporation prepared the income statement below. The auditor has asked you to use this statement to provide additional information to Dolfin Corporation on the Final Questions panel.

Dolfin Corporation Income Statement

For the Year Ended December 31

Sales $319,340.00

Expenses:

Cost of merchandise sold $217,151.20

Selling expenses 41,514.20

Administrative expenses 35,127.40

Interest expense 275.00

Total expenses 294,067.80

Net income $25,272.20

The auditor has asked you to prepare additional information about Dolfin Corporations results for last year. Use the data shown on the income statement in your calculations.

1. Calculate the operating expenses for Dolfin Corporation.

2. Calculate the gross profit for Dolfin Corporation.

3. Calculate the income from operations for Dolfin Corporation.