find the missing values in the income statement. what is the net income? income statement sales $23,500…

find the missing values in the income statement. what is the net income? income statement sales $23,500 returns $ (1,700) net sales $21,800 cogs $ (8,800) gross profit $13,000 overhead $ (2,400) net income $?

find the missing values in the income statement. what is the net income? income statement sales $23,500 returns $ (1,700) net sales $21,800 cogs $ (8,800) gross profit $13,000 overhead $ (2,400) net income $?

Answer

Explanation:

Step1: Recall net - income formula

Net Income = Gross Profit - Overhead

Step2: Substitute given values

Net Income = $13000- 2400$

Step3: Calculate result

Net Income = $10600$

Answer:

$10600$