Assume Novak Company has the following reported amounts: Sales revenue $530,000, Sales returns and allowances $24,000, Cost 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, e.g. 25.2%.) Gross profit rate %