Required information Skip to question [The following information applies to the questions displayed below.] Vitamix reports the following information for its year ended December 31: Cash sales $ 62,000 Sales on credit 92,000 General and administrative expenses 18,000 Sales returns 11,200 Cost of goods sold 80,500 Sales discounts 2,200 Selling expenses 26,000 Use the above information, to compute (a) net sales and (b) gross profit