find the missing values in the income statement. what are the net sales? income statement sales $12,800…

find the missing values in the income statement. what are the net sales? income statement sales $12,800 returns $ (360) net sales $? cogs $ (8,000) gross profit $ overhead $ (2,500) net income $

find the missing values in the income statement. what are the net sales? income statement sales $12,800 returns $ (360) net sales $? cogs $ (8,000) gross profit $ overhead $ (2,500) net income $

Answer

Explanation:

Step1: Recall net - sales formula

Net sales = Sales - Returns

Step2: Substitute given values

Net sales=$12800 - 360$

Step3: Calculate result

Net sales = $12440$

Answer:

$12440$