Ch 5 Exercise 5-12

A company reports the following sales-related information. Prepare the net sales portion only of this com- panys multiple-step income statement.

226 Chapter 5 Accounting for Merchandising Operations Exercisa 5-12 Multiple-step incomepany's multiple-step income statement statement P4 A company reports the following sales-related information. Prepare the net sales pottion only of this com- Sales gross Sales discounts $200,000 R4000 Sales returns and allowances....$16.000 Sales salaries expense 10,000