The Following Information Is Available for Sheldon Leonard Company Compute Each of the Following:
(A) Net Sales
(B) Gross

The following information is available for Sheldon Leonard Company: $\begin{array}{lr}\text { Operating expenses } & \$ 85,000 \\\text { Cost of goods sold } & 200,000 \\\text { Sales revenue } & 325,000 \\\text { Sales returns and allowances } & 16,000 \\\text { Sales discounts } &3,000 &\end{array}$ Compute each of the following:
(a) Net sales
(b) Gross profit