Financial information is presented: Operating Expenses $55,000; Sales Returns and Allowances 13,000; Sales Discount 6,000; Sales--160,000 Cost of Goods sold 77,000. The amount of net sales on the income statement would be?
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Financial information is presented: Operating Expenses $55,000; Sales Returns and Allowances 13,000; Sales Discount 6,000; Sales--160,000 Cost of Goods sold 77,000. The amount of net sales on the income statement would be?
Net Sales = Sales - Sales Discounts - Sales Returns & Allowances.
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