Following is an incomplete current year income statement Determine Net Sales, Cost of goods sold and Net Income. Additional information follows: Return on total assets is 15% (average total assets is $78,000). Inventory turnover is 5 (average inventory is $5,900) Accounts receivable turnover is 8 (average accounts receivable is $6,900). Income Statement Net sales Cost of goods sold Selling, general, and administrative expenses Income tax expense Net income 8,000 3,000