3. Raven Company had the following account balances Sales Revenue, $100,000; Sales Returns and Allowances, \$2,400; Sales Discounts, 2,400; and Bad Debts, $400. Given these balances, the amount of net sales is: A. $98,000 B. $97,600 C. $95,600 D. $95,200 4. During 2017, Rumbo Corporation had cash and credit sales of $21,760 and $15,225, respectively. The company also collected accounts receivable of $9,765 and incurred operating expenses of $27,700,80 percent of which were paid during the year. In addition, Rumbo paid $4,500 for an 18-month advertising campaign that began on September 30 . Rumbo's accrual-basis net income (loss) for 2017 was A. $9,285 B. $8,535 C. $14,075 D. $(775)