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Sandpiper Inn reported the following amounts in its financial statements: Cash: $3,700 General & Admin expenses: $3,400 Accounts payable: $4,200 Retained Earnings: $4,400 Long-term notes

Sandpiper Inn reported the following amounts in its financial statements:

Cash: $3,700

General & Admin expenses: $3,400

Accounts payable: $4,200

Retained Earnings: $4,400

Long-term notes payable: $600

Inventory: $500

Cost of Goods: $19,000

Equipment, net: $3,600

Selling Expenses: $1,800

Sales revenue: $28,000

Accounts Receivable: $2,900

Sales Discounts: 2,020

Required:

  1. Calculate net sales.
  2. Calculate gross profit.
  3. Calculate net income.

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