Ayayai Company provides the following information for the month ended October 31, 2020: sales on credit $294,000, cash sales $103,500, sales discounts $6,600, and sales returns and allowances $10,300. Prepare the sales section of the income statement based on this information. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) AY Incom For the Sales Less Net Sales Prepare the sales section of the income statement based on this information. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) IPANY t (Partial) ber 31, 2020 $ $ Current Attempt in Progress Assume Ayayai Company has the following reported amounts: Sales revenue $630,000, Sales returns and allowances $25,000, Cost of goods sold $409,500, and Operating expenses $78,000. (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 ON