Accounting Supplies Retailer (ASR) had the following transaction during Year 1: 1. Inventory that had cost $17,400 was sold for $31,320 under terms 2/20, net/30. 2. Customers returned merchandise to ASR five days after the purchase. The merchandise had been sold for a price of $784. The merchandise had cost ASR $560. 3. All customers paid their accounts within the discount period. 4. Selling and administrative expenses amounted to $3,132. 5. Interest expense paid amounted to $240. 6. Land that had cost $6,400 was sold for $8,640 cash. Required a. Determine the amount of net sales. b. Prepare a multi-step income statement