Question (1) (7.5 marks) The adjusted trial balance of Pratt Company prepared at December 31, 2008, contained the following information Debit Credit Sales Sales Returns and Allowances $137,500 $5,000 Sales Discounts 1,750 Cost of Goods Sold 91,500 Delivery Expense 500 Advertising Expense 3,750 Sales Salaries Expense 12,500 Rent Expense-Office Space 4,500 Depreciation Expense Office Equipment 1.750 Interest Revenue 6,250 Interest Expense 4,500 Notes payable 14,500 Lulu Capital 242,000 Use the above information to answer the following questions (1) Net sales for the year are 5 (2) The gross profit for the year 11 5 (3) The operating expenses for the year are 5 (4) Income from operations for the year is s (5) Net income for the year is 5 For the toolbar.press ALT+F10 PC or ALT-FN-F10 (Mac) BIS Paragraph Arial ul 140 !!! > ITI