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 $63,750). Inventory turnover is 5 (average inventory is $8,000). Accounts receivable turnover is 8 (average accounts receivable is $7.900), Income Statement Net sales Cost of goods sold Selling general, and administrative expenses Income tax expense Net income 9,000 4,000