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 $80,000). Inventory turnover is 6 (average inventory is $6,150). Accounts receivable turnover is 9 (average accounts receivable is $6,600). Net sales Income Statement Cost of goods sold Selling, general, and administrative expenses 8,000 Income tax expense 2,500 Net income