find the missing values in the income statement. what are the net sales? income statement sales $ 520,000…

find the missing values in the income statement. what are the net sales? income statement sales $ 520,000 returns $ (25,000) net sales $? cogs $ (100,000) gross profit $ overhead $ (100,000) net income $

find the missing values in the income statement. what are the net sales? income statement sales $ 520,000 returns $ (25,000) net sales $? cogs $ (100,000) gross profit $ overhead $ (100,000) net income $

Answer

Explanation:

Step1: Recall net - sales formula

Net Sales = Sales - Returns

Step2: Substitute given values

Net Sales = $520000- 25000$

Step3: Calculate net - sales

Net Sales = $495000$

Answer:

$495000$