Using the following information, calculate (a) Net sales, (b) Beginning inventory, (c) Cost of goods sold, (d) Gross margin, and (e) Net income (Income after taxes).

Sales salaries expense $ 7,000

Sales (gross) 90,000

Ending Inventory 16,000

Purchase returns and allowances 500

General and administrative expenses 8,000

Selling expenses 3,000

Sales discounts 1,200

Freight in 1,500

Freight out 2,500

Prepaid expenses 5,000

Purchases (gross) 30,000

Cost of goods available for sale 63,000

Income taxes rate = 30%