On December $31,$ a company's records show the following selected accounts and amounts. Use this information to compute net income for the company.Vitamix reports the following information for its year ended December $31$:Cash sales $ $82,000$Sales on credit $112,000$ General and administrative expenses $28000$ Sales returns $13,200$ Cost of goods sold $85,500$Sales discounts $4,200$ Selling expenses $46,000$ Use the above information to prepare the gross profit section of a multiple$-$step income statement.

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