Use the following data to answer the question Sales $1,200,000 Sales Discounts $18,000 Sales Returns and Allowances $24,000 Cost of Goods Sold $720,000 Operating Expenses $240,000 Gross Profit on the Income Statement is $1,182,000 $1,158,000 $438,000 $198,000 Save uestion 18 (1.5 points) Use the following data to answer the question Sales $1,000,000 Sales Discounts $15,000 Sales Returns and Allowances $20,000 Cost of Goods Sold $600,000 Operating Expenses $200,000 Net Sales on the Income Statement is $985,000 $965,000 $365,000 $165,000