Write the name of the term in each blank 1. Income from sales less any sales returns or allowances made The utilities, employee wages, insurance, tax, and any other expenses incurred by the business 2. 3. Net sales less cost of goods sold 4. The amount the business paid for the merchandise for sale 5. Gross profit less expenses Find the missing amounts. Show all of your work. $17,480 Sales: Returns: $3,465 6. Net sales: Cost of goods sold: $9,312 Gross profit: 7. $3,125 Expenses: 8 Label as net profit or loss: ? Amount of profit or loss: ? 9. Find the quotient. 458 413,574 10