Telfer Inc. has the following data for the year ended on December 31, 2021: Cost of goods sold............ Operating expenses. Sales............. $520,000 288,000 1,100,000 22,000 Sales discounts. Sales returns and allowances The amount of net sales on the income statement would be 76,000 $1,002,000. $1,100,000. $1,024,000. $1,078,000. Telfer Inc. has the following data for the year ended on December 31, 2021: Cost of goods sold............ Operating expenses. Sales............. $520,000 288,000 1,100,000 22,000 Sales discounts. Sales returns and allowances The amount of net sales on the income statement would be 76,000 $1,002,000. $1,100,000. $1,024,000. $1,078,000.