find the missing values in the income statement. what is the net income?\nincome statement\nsales…

find the missing values in the income statement. what is the net income?\nincome statement\nsales $29,000\nreturns $ (3,300)\nnet sales $25,700\ncogs $ (3,200)\ngross profit $22,500\noverhead $ (3,200)\nnet income $?

find the missing values in the income statement. what is the net income?\nincome statement\nsales $29,000\nreturns $ (3,300)\nnet sales $25,700\ncogs $ (3,200)\ngross profit $22,500\noverhead $ (3,200)\nnet income $?

Answer

Explanation:

Step1: Recall net - income formula

Net income = Gross profit - Overhead

Step2: Substitute given values

Net income = $22500-3200$

Step3: Calculate the result

Net income = $19300$

Answer:

$19300$