find the missing values in the income statement. what are the net sales? income statement sales $12,900…

find the missing values in the income statement. what are the net sales? income statement sales $12,900 returns $ (350) net sales $? cogs $ (8,400) gross profit $ overhead $ (2,650) net income $

find the missing values in the income statement. what are the net sales? income statement sales $12,900 returns $ (350) net sales $? cogs $ (8,400) gross profit $ overhead $ (2,650) net income $

Answer

Explanation:

Step1: Recall net - sales formula

Net Sales = Sales - Returns

Step2: Substitute given values

Net Sales = $12900-350$

Step3: Calculate result

Net Sales = $12550$

Answer:

$12550$