find the missing values in the income statement. what are the net sales? income statement sales $35,000…

find the missing values in the income statement. what are the net sales? income statement sales $35,000 returns $ (3,750) net sales $? cogs $ (8,800) gross profit $ overhead $ (5,000) net income $

find the missing values in the income statement. what are the net sales? income statement sales $35,000 returns $ (3,750) net sales $? cogs $ (8,800) gross profit $ overhead $ (5,000) net income $

Answer

Explanation:

Step1: Recall net - sales formula

Net Sales = Sales - Returns

Step2: Substitute given values

Net Sales = $35000-3750$

Step3: Calculate the result

Net Sales = $31250$

Answer:

$31250$