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 $79,000). Inventory turnover is 4 (average Inventory is $6,290). | Accounts receivable turnover is 7 (average accounts receivable is $7,000). Net sales Income Statement Cost of goods sold Selling, general, and administrative expenses 8,100 Income tax expense 3,100 Net income