Q1) The information for Baker Manufacturing is givn below:
| Sales revenue |
$460,000 |
| Cost of Goods Sold |
$300,000 |
| Operating Expenses |
$85,000 |
| Sales Discounts |
$20,000 |
| Sales Returns & Allowances |
$15,000 |
Compute the following values:
| Net Sales |
|
| Gross Profit |
|
| Net Income |
|