XCIO Calculate net income from the following table. Inventories $50,000 Cost of Goods Sold $250.000 Administrative Expenses $50,000 Accumulated Depreciation $150,000 Sales $600,000 Depreciation Expense $25,000 Selling Expenses $150,000 Common Stock Dividends $8,000 Interest Expense $8,000 Corporate Tax Rate 4094 62,200 78,000 117,000 70,200