Discover a wealth of knowledge and get your questions answered at IDNLearn.com. Join our Q&A platform to access reliable and detailed answers from experts in various fields.

Given: Gross sales, $170,000; sales returns and allowances, $9,000; beginning inventory, $8,000; net purchases, $18,000; ending inventory, $5,000; and operating expenses, $56,000. a. Calculate net sales. b. Calculate cost of merchandise (goods) sold. c. Calculate gross profit from sales. d. Calculate net income.