Financial information is presented below: Operating expenses $ 45,000 Sales returns and allowances 3,000 7,000 160,000 96,000 Sales discounts Sales revenue Cost of goods sold The amount of net sales on the income statement would be a. $153,000 b. $150,000. c. $160,000. d. $157,000. 9. Financial information is presented below: Operating expenses $ 42,000 Sales returns and allowances 12,000 Sales discounts 3,000 Sales revenue 165,000 Cost of goods sold 96,000 The profit margin would be a. .36. b. .18. C. .06. d. .08