Assume Sheridan Company has the following reported amounts: Sales revenue $1,571,000, Sales returns and allowances $46,000, Cost of goods sold $1,029,375, and Operating expenses $338,800. (a) Compute net sales. Net sales: (b) Compute gross profit. Grossprofit \$ (c) Compute income from operations. income from operations \$ (d) Compute the gross profit rate. (Round answer to 1 decimal place, eg. 25.2\%) Gross profit rate