Financial Ratios The financial statements for Jackson Enterprises (income statement, statement of owner's equity, and balance sheet) are shown. Dackson Enterprises Income Statement For Year Ended December 1, 20-4 Revenue from sales: Sales $180,000 10,000 Less: Sales returns and allowances $170,000 Net sales Cost of goods sold: Merchandise inventory, January 1, 2017 Estimated returns inventory, January 1, 2015 $7600 1,400.509,000