Question

Financial information is presented below: Operating Expenses $ 45,000 Sales Returns and Allowances 9,000 Sales Discounts 6,000 Sales Revenue 160,000 Cost of Goods Sold 87,000 The amount of net sales on the income statement would be

Answer 1

Answer:

$145,000

Explanation:

Given that,

Operating Expenses = $ 45,000

Sales Returns and Allowances = 9,000

Sales Discounts = 6,000

Sales Revenue = 160,000

Cost of Goods Sold = 87,000

Net sales:

= Sales revenue - Sales Returns and Allowances - Sales Discounts

= $160,000 - $ 9,000 - $6,000

= $145,000

Therefore, the amount of net sales on the income statement would be $145,000.