The following balances are from the accounts of Tappan Parts. (Ending) Finished goods inventory Sales Revenue for the year Net Income for the year January 1 (Beginning) $ 312,000 December 31 $ 364,000 $1,880,000 $ 306,000 $1,240,000 Cost of goods sold for the year Determine the amount of Operating Expenses incurred for the year. The following balances are from the accounts of Tappan Parts. December 31 (Ending) Sales Revenue for the year Gross Margin for the year Net Income for the year $1,850,000 $ 800,000 $ 293,000 Additionally it was determined that fixed costs represent 30% of the Cost of Goods sold and 60% of Operating Expenses for the year. Determine the total amount of fixed costs included on the Income Statement for the year