find the missing values in the income statement. what are the net sales? income statement sales $48,500…

find the missing values in the income statement. what are the net sales? income statement sales $48,500 returns $ (3,200) net sales $? cogs $ (7,800) gross profit $ overhead $ (6,600) net income $

find the missing values in the income statement. what are the net sales? income statement sales $48,500 returns $ (3,200) net sales $? cogs $ (7,800) gross profit $ overhead $ (6,600) net income $

Answer

Explanation:

Step1: Recall net - sales formula

Net Sales = Sales - Returns

Step2: Substitute given values

Net Sales = $48500-3200$ Net Sales = $45300$

Answer:

$45300$