Cyclone Corporation reports the following on its most recent income statement: Cost of goods sold..$800,000 Operating expenses 150,000 Pretax income. 250,000 Assuming there are no other revenues and expenses and that the company faces a 30% tax rate, what is the amount of net sales and net income reported for the year? Net Sales Net Income

		$1,200,000 $175,000
		$ 950,000 $550,000
		$1,150,000 $350,000
		$1,050,000 $ 75,000