Walmart reported the following expenses for the fiscal year:

• Merchandise purchases: $25,000,000
• Store rent: $8,200,000
• Advertising costs: $10,600,000
• Executive salaries: $7,800,000
• Freight in: $4,300,000
• Freight out: $3,200,000
• Property insurance: $1,700,000
• Research and development: $3,500,000

Requirements:

• Determine the cost of goods sold.
• Calculate the total operating expenses.
• Identify the total administrative expenses.