A company reports the following sales-related information. Sales, gross Sales discounts $ 240,000 Sales returns and allowances 4,800 Sales salaries expense $19,000 10,800 Prepare the net sales portion only of this company's multiple-step income statement. Multiple-Step Incone Statement (Partial) Net sales A company reports merchandise inventory on December 31 at $250,000 but LCM applied to items is $200,000. Note: Enter debits before credits. General Journal Debit Date Dec 31