2.3 11 points eBook Ask Following is an incomplete current-year income statement. Determine Net Sales, Cost of goods sold and Net Income. Additional information follows: . Return on total assets is 16% (average total assets is $58,125). Inventory turnover is 5 (average inventory is $7,100). Accounts receivable turnover is 8 (average accounts receivable is $7,000). Income Statement Print Net sales References Cost of goods sold Selling, general, and administrative expenses 8,100 Income tax expense 3,100 Net income