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Cost of goods sold $217,000 Income tax expense 33,600 Operating expenses 172,000 Sales 550,000 Sales discounts 12,000 Sales returns and allowances 37,000 The amount of

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Cost of goods sold $217,000 Income tax expense 33,600 Operating expenses 172,000 Sales 550,000 Sales discounts 12,000 Sales returns and allowances 37,000 The amount of net sales on the income statement would be $513,000 O $550,000 O $501,000 $538,000

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