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

Essay

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