Financial information is presented below: Operating expenses Sales returns and allowances Sales discounts Sales revenue Cost of goods sold The gross profit rate would be A) .40 B) .60 C) .44. D) .45. 49. $45,000 4,000 6,000 160,000 90,000 50. Financial information is presented below: Operating expenses Sales returns and allowances Sales discounts Sales revenue Cost of goods sold The amount of net sales on the income statement would be A) $154,000. B) $150,000. C) $160,000. D) $156,000. $45,000 4,000 6,000 160,000 90,000