16. Thelma Company reported the following balances at June 30, 2008: Sales $10,800 Sales Returns and Allowances 400 Sales Discounts 200 Cost of Goods Sold 5,000 Net sales for the month is: a. $10,800. b. $10,400. c. $10,200. d. $5,200. 17. During 2008, Salon Enterprises generated revenues of $60,000. The company's expenses were as follows: cost of goods sold of $30,000, operating expenses of $12,000 A: Salon's gross profit is a. $60,000. b. $30,000. c. $18,000. d. $16,000. B: Salon's income from operations is a. $60,000. b. $30,000. c. $18,000. d. $12.000. 18. Net purchases plus freight-in determines a. cost of goods sold. b. cost of goods available for sale. c. cost of goods purchased. d. total goods available for sale