M McGraw Hill x M Question 4 - Chapter 13 Home x G screenshot on macbook air - G x + - C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253%252F%252Fnewconnect.mheducation.com%252F#/activity/q... D Audiotool - make... https://www.youtu... W Cornejo AOE T Thesaurus.com | F... > Other Bookmarks Chapter 13 Homework Saved Help Save & Exit Submit Check my work Following is an incomplete current-year income statement. Determine Net Sales, Cost of goods sold and Net Income. Additional information follows: 0.5 . Return on total assets is 16% (average total assets is $68,750). points . Inventory turnover is 5 (average inventory is $6,000). Accounts receivable turnover is 8 (average accounts receivable is $6,250). eBook Income Statement Print Net sales References Cost of goods sold Selling, general, and administrative expenses 7,000 Income tax expense 2,000 Net income Mc Graw 4 of 26 Next > Hill