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Exercise 4-17 (Algo) Computing net sales for multiple-step income statement LO P4 A company reports the following sales-related information. $ 235,000 Sales returns and allowances 4,700 Sales salaries expense $ 18,000 10,700 Sales, gross Sales discounts Prepare the net sales portion only of this company's multiple-step income statement. Multiple-Step Income Statement (Partial) Net sales