find the missing values in the income statement. what are the net sales? income statement sales $23,000…

find the missing values in the income statement. what are the net sales? income statement sales $23,000 returns $ (3,700) net sales $? cogs $ (7,500) gross profit $ overhead $ (4,500) net income $

find the missing values in the income statement. what are the net sales? income statement sales $23,000 returns $ (3,700) net sales $? cogs $ (7,500) gross profit $ overhead $ (4,500) net income $

Answer

Explanation:

Step1: Recall net - sales formula

Net Sales = Sales - Returns

Step2: Substitute given values

Net Sales = $23000-3700$

Step3: Calculate the result

Net Sales = $19300$

Answer:

$19300$