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Financial information is presented below: Operating Expenses $ 91100 Sales Returns and Allowances 17000 Sales Discounts 12400 Sales Revenue 320100 Cost of Goods Sold 174200 The amount of net sales on the
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34 votes
34 votes
Financial information is presented below: Operating Expenses $ 91100 Sales Returns and Allowances 17000 Sales Discounts 12400 Sales Revenue 320100 Cost of Goods Sold 174200 The amount of net sales on the income statement would be

User QuinDa
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1 Answer

12 votes
12 votes

Answer:

$290,700

Step-by-step explanation:

The amount of net sales on the income statement is computed as shown below;

Net sales = Sales revenue - Sales discount - Sales return and allowance

Net sales = $320,100 - $12,400 - $17,000

Net sales = $290,700

User Sean Christe
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