False Value Hardware began 2021 with a credit balance of $32,600 in the refund liability account. Sales and cash collections from customers during the year were $670,000 and $630,000, respectively. False Value estimates that 6% of all sales will be returned. During 2021, customers returned merchandise for credit of $21,000 to their accounts. False Value Hardware's 2021 income statement would report net sales of: Multiple Choice O $637,400. $658,400. $649,000 $629,800