find the missing values in the income statement. what is the net income? income statement sales $12,600…

find the missing values in the income statement. what is the net income? income statement sales $12,600 returns $ (320) net sales $12,280 cogs $ (8,100) gross profit $ 4,180 overhead $ (2,200) net income $?

find the missing values in the income statement. what is the net income? income statement sales $12,600 returns $ (320) net sales $12,280 cogs $ (8,100) gross profit $ 4,180 overhead $ (2,200) net income $?

Answer

Explanation:

Step1: Recall net - income formula

Net income = Gross profit - Overhead

Step2: Substitute given values

Net income = $4180-2200$

Step3: Calculate result

Net income = $1980$

Answer:

$1980$