5) The following information is available for Sheldon Leonard Company: Operating expenses $ 70,000 Cost of goods sold 200,000 Sales 383,000 Sales returns and allowances 17,000 Instructions: Compute each of the following: Net sales (b) Gross margin (in dollars) (c) Income from operations Gross profit margin ratio (a percentage, using Net Sales as your base of 100%) 8) Which of the following accounts is considered a temporary or nominal account? a. Accounts Payable b. Prepaid Insurance c. Service Revenue d. Supplies