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    americanbulls2's Avatar
    americanbulls2 Posts: 2, Reputation: 1
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    #1

    Jun 11, 2011, 03:37 PM
    Financial Accounting
    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?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Jun 12, 2011, 07:38 AM

    Net Sales = Sales - Sales Discounts - Sales Returns & Allowances.
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