find the missing values in the income statement. what are the net sales? income statement sales $12,000…

find the missing values in the income statement. what are the net sales? income statement sales $12,000 returns $ (370) net sales $? cogs $ (8,150) gross profit $ overhead $ (2,300) net income $

find the missing values in the income statement. what are the net sales? income statement sales $12,000 returns $ (370) net sales $? cogs $ (8,150) gross profit $ overhead $ (2,300) net income $

Answer

Explanation:

Step1: Recall net - sales formula

Net Sales = Sales - Returns

Step2: Substitute given values

Net Sales = $12000-370$

Step3: Calculate result

Net Sales = $11630$

Answer:

$11630$