Thornhill Company's income statement shows gross profit of ($ 432,000), cost of goods sold of ($ 638,000),

Question:

Thornhill Company's income statement shows gross profit of $\$ 432,000$, cost of goods sold of $\$ 638,000$, and other expenses totaling $\$ 390,000$. Compute the amounts of

(a) revenue from sales (net sales) and

(b) net income.

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