The following data was taken from ledger account balances and supplementary data for the XYZ Company.

Merchandise inventory, beginning	20,000
Merchandise inventory, ending	23,000
Purchases	215,000
Purchases discounts	6,000
Purchases returns and allowances	3,000
Sales	400,000
Sales discounts	3,200
Sales returns and allowances	1,800
Freight- in	10,000

REQUIRED :

Show the computation, in proper format, of net sales, cost of goods sold, and gross profit for the year ended December 31, 2016.