$5.$ Tara$$s Treasures has the following balances:

Sales $$850,000$ CR

Cost of Goods Sold $$480,000$ DR

Sales Returns and Allowances $$60,000$ DR

Sales Discount $$35,000$ DR

Accounts Receivable $$750,000$ DR

Required: Calculate the following balances:

What is the Net Sales?$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

What is the Gross Profit?$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$