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 16% (average total assets is $65,000). Inventory turnover is 4 (average inventory is $6,100). Accounts receivable turnover is 7 (average accounts receivable is $6,500). Income Statement Net sales Cost of goods sold Selling, general, and administrative expenses 7,900 Income tax expense 2,800 Net income