1) Financial information is presented below:

Operating Expenses	$ 90200
Sales Returns and Allowances	25000
Sales Discounts	11500
Sales	295000
Cost of Goods Sold	159000

Gross profit would be

Financial information is presented below:

Operating Expenses	$ 89500
Sales Returns and Allowances	18000
Sales Discounts	11100
Sales Revenue	320900
Cost of Goods Sold	175000

The amount of net sales on the income statement would be