find the missing values in the income statement. what are the net sales? income statement sales $37,000…

find the missing values in the income statement. what are the net sales? income statement sales $37,000 returns $ (3,400) net sales $? cogs $ (8,000) gross profit $ overhead $ (5,000) net income $

find the missing values in the income statement. what are the net sales? income statement sales $37,000 returns $ (3,400) net sales $? cogs $ (8,000) gross profit $ overhead $ (5,000) net income $

Answer

Explanation:

Step1: Recall net - sales formula

Net Sales = Sales - Returns

Step2: Substitute given values

Net Sales=$37000 - 3400$

Step3: Calculate result

Net Sales = $33600$

Answer:

$33600$