16 Cushman Company had $810,000 in sales, sales discounts of $12,150, sales returns and allowances of...

Question

Question

Answer 1

Answer #1

Answer: $116,235

Explanation

Cushman Company
Income statement
	$	$
Revenue
Sales		810,000.00
Less: Sales Discounts	12,150.00
Less Sales Returns & Allowance	18,225.00	30,375.00
Net Sales		779,625.00
Cost of goods sold		384,750.00
Gross Profit		394,875.00
Less: Operating Expenses		278,640.00
Net Income		116,235.00

Answer 2

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