Below are select account balances for Tiny Co. Gross revenues: $500,000 Sales discounts: $50,000 Selling expenses: $100,000 Accounts receivable: $280,000 Allowances for discounts: $40,000 Allowances for returns: $30,000 Sales returns: $40,000 Costs of goods sold: $100,000 G&A expenses: $120,000 Loss from discontinued operations: $5,000 Beginning retained earnings: $190,000 Ending retained earnings: $260,000 12. From information above, calculate net sales a. $310,000 b. $410,000 c. $430,000 d. $310,000 None of the above . 13. From information above, calculate income from operations a. $175,000 b. $180,000 c. $85,000 d. $90,000 None of the above . 14. From information above, calcu late Net income a. $70,000 b. $90,000 c. $105,000 d. $85,000 None of the above . 15. From information above, calculate gross profit a. $235,000 b. $335,000 c. $230,000 d. $330,000 None of the above e. 16. From information above, calculate current year dividends a. $15,000 b. $20,000 c. $70,000 d. $75,000 None of the above