Hughes Company has the following account balances, extracted from its multiple-step income statement for the current year. Required: Compute the missing amounts. Sales $ 106,500 Sales Returns and Allowances 4,700 Sales Discounts 4,200 Net Sales Cost of Goods Sold Gross Profit Selling Expenses 33,700 11,600 General and Administrative Expenses 8,400 Total Operating Expenses Net Income 1 x