find the missing values in the income statement. what are the net sales? income statement sales $12,850…

find the missing values in the income statement. what are the net sales? income statement sales $12,850 returns $ (370) net sales $? cogs $ (8,200) gross profit $ overhead $ (2,350) net income $

find the missing values in the income statement. what are the net sales? income statement sales $12,850 returns $ (370) net sales $? cogs $ (8,200) gross profit $ overhead $ (2,350) net income $

Answer

Answer:

$12,480$

Explanation:

Step1: Recall net - sales formula

Net Sales = Sales - Returns

Step2: Substitute given values

Net Sales = $12850-370$

Step3: Calculate result

Net Sales = $12480$