Solve the problem.
For the month ending June 30, TriCounty Nursery has net sales of $251,000, cost of goods sold of $99,000, and operating expenses of $70,000. Find the gross profit and net income.
Net Sales= $251,000
Cost of goods= $99,000
Operating Cost= $70,000
Gross Profit=sales-cost of goods
Gross Profit= $152,000
Net Income = Gross profit- operating Cost
Net income= $152,000-$70,000
Net Income = $82,000
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