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Financial information is presented below: Operating expenses Sales returns and allowances Discount received (Other operating revenue) Discount allowed Sales revenue Costs of sales $ 69,000

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Financial information is presented below: Operating expenses Sales returns and allowances Discount received (Other operating revenue) Discount allowed Sales revenue Costs of sales $ 69,000 27,000 12,000 12,000 253,000 129,000 7. The amount of net sales on the income statement would be: [ ] A. $ 214,000. [ ] B. $ 226,000. [ ] C. $ 241,000. [ ]D. $ 253,000. 8. The amount of gross profit would be: [ ] A. $ 97,000. [ ] B. $ 85,000. [ ] C. $ 109,000. [ ] D. $ 112,000. 9. The amount of operating profit would be: [ ] A. $ 28,000. [ ] B. $ 40,000 [ ] C. $ 16,000. [ ]D. $ 52,000

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