QUESTION 1 10 The information presented below for XYZ Company for the year ended December 31st 2020. Cost of goods sold $1,256,000 Rent expense $112,000 Gain on sale of investments 17,000 Sales returns 115,000 Gain on sale of equipment 112,000 Sales 2,150,000 Salary expense 115,000 Interest expense 40,000 Administrative expense 112,500 Income tax expense 79,300 Unearned revenue 112,300 Prepaid rent 5,700 Sales discount 12,500 Salary payable 11,000 Account receivable 110,000 Loss on sale of shares 2,000 Casualty loss from fire 50,000 Depreciation expense 120,000 Gross sales for the period is _$