Exercise 5-10. Calculating expenses and cost of goods sold (Page 309) Westlawn Company discloses the following for the year ended May 31, 2020: Sales............ Sales discounts...... Sales returns...... Gross profit from sales........... Loss.... $486,000 5,000 12,100 115,000 23,500 Required Calculate (a) net sales, (b) total operating expenses. (C) cost of goods sold, and (d) gross profit ratio (round to two decimal places)