Determine Net Sales, Cost of goods sold and Net Income. Additional information follows:

Return on total assets is $16\%($average total assets is $$62,500).$

Inventory turnover is $5($average inventory is $$7,800).$

Accounts receivable turnover is $8($average accounts receivable is $$7,700).$

$\backslash$table$[[$Income Statement$],[$Net sales,$],[$Cost of goods sold,$],[$Selling$,$ general, and administrative expenses,$8,800],[$Income tax expense,$3,800],[$Net income,$]]$