Assume Novak Company has the following reported amounts: Sales revenue $530,000, Sales returns and allows of goods sold $344.500, and Operating expenses $70,000 (a) Compute net sales. Net sales $ (b) Compute gross profit. Gross profit $ (c) Compute income from operations. Income from operations $ (d) Compute the gross profit rate (Round answer to 1 decimal place, c.3. 25.2%) Gross proftrate %