The sporting goods store sold $75,000 worth of merchandise in June.The retailer gave no discounts and had no returns.Which of the following statements accurately describes the information seen on the company's income statement?
A) Gross sales exceed net sales.
B) Cost of goods sold exceeds gross sales.
C) Gross sales equal net sales.
D) Liabilities equal assets.
E) Net sales exceed gross sales.
Correct Answer:
Verified
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