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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

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 incomereported 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

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