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During 2024, its first year of operations, Hollis Industries recorded sales of $11,700,000 and experienced returns of $650,000. Cost of goods sold totaled $8,190,000 (70%

During 2024, its first year of operations, Hollis Industries recorded sales of $11,700,000 and experienced returns of $650,000. Cost of goods sold totaled $8,190,000 (70\% of sales). The company estimates that 7% of all sales will be returned. How much net revenue will Hollis Industries report at the end of its first year of operations

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