Use the following to answer questions 23 - 30 PMJ Corp. reported the following income statement results: Sales Sales returns & allowances Gross profit Operating expense Gain on sale of equipment Net income $945,700 5,700 430,000 310,000 6,000 102,500 23. $ Calculate Net sales Calculate Cost of Goods Sold Calculate operating income Calculate Income before Income tax (IBT) Calculate income tax expense %. Calculate the gross profit margin (one decimal place) - % %. Calculate the profit margin (one decimal place) Calcu Assume the company had a loss (instead of the gain) on the sale of equipment of $3,000; determine IBT