Homework Answers
| Income Statement (Partial) | |
| Sales Revenue | $10,920 |
| Less: Sales returns and Allowances [$364 + $156] | $520 |
| Net Sales | $10,400 |
| Cost of Goods Sold [$6,510 - $217 - $93] | $6,200 |
| Gross Profit [$10,400 - $6,200] | $4,200 |
| Balance Sheet (Partial) | |
| Cash | $10,920 |
| Returned inventory | $217 |
| Accounts Payable [$364 + $156] | $520 |
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