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Financial information is presented below: Operating expenses $ 56000 Sales returns and allowances 10000 Sales discounts 3000 Sales revenue 140000 Cost of goods sold 100000 The amount of net sales on the
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Financial information is presented below:

Operating expenses $ 56000
Sales returns and allowances 10000
Sales discounts 3000
Sales revenue 140000
Cost of goods sold 100000

The amount of net sales on the income statement would be

User Lena Schimmel
by
5.3k points

1 Answer

3 votes

Answer:

Total Net Sales : $127.000

Step-by-step explanation:

Income Statement

Sales 140.000

Sales Return and Allowance -10.000

Sales Discounts -3.000

Net Sales $127.000

Cost of goods sold -100.000

Gross Profit 27.000

Operating Expenses -56.000

Net Income BEFORE Taxes -29.000

User Peter Lawrence
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