O MERCHANDISING ACCOUNTING Parts of the retail income statement Robinson company has the following account balances, extracted from its multiple-step income statement for the current year. Required: Compute the missing amounts. Sales Sales Returns and Allowances Sales Discounts Net Sales 119,600 O 3,600 0 62,900 50,000 Cost of Goods Sold Gross Profit Selling Expenses General and Administrative Expenses Total Operating Expenses Net Income D 8,100 18,800 ? Explanation Check