Financial information is presented below: $\begin{array}{lr}
\text { Operating Expenses } & \$ 92,800 \
\text { Sales Returns and Allowances } & 18,000 \
\text { Sales Discounts } & 12,000 \
\text { Sales Revenue } & 350,000 \
\text { Cost of Goods Sold } & 176,000
\end{array}$ The amount of net sales on the income statement would be
A) $320000.
B) $332000.
C) $338000.
D) $350000.

Question

Quizplus · Accepted Answer

Net sales = Sales revenue - Sales returns and allowances - Sales discounts= 350,000 - 18,000 - 12,000= $320,000

Financial Information Is Presented Below The Amount of Net Sales on the Income Statement Would