Kanishka Corporation. Amounts are listed in alphabetical order. come Statm. The informatio n below is taken from the year-end accounting records of Account Amount Dividends Gross profit Operating expenses Sales revenue Total assets $ 2,000 38,600 22,000 80,000 $ 100,000 Use the information in the above table to answer the next 3 questions: SHOW WORK for full or partial credit 16. 17. 18. How much is Cost of Goods Sold (COGS)? How much is net income? What is the gross profit rate? n December 1, Year 1 RETAIL STORE sells a $1,500 computer. Customer Nancy pays $500 in cash and signs an installment agreement for the remaining $1,000 to be paid the following year, Year 2 On the income statement of RETAIL STORE, how much revenue should be recognized? a. In Year 1 b. In Year 2