The following supplementary records summarize Tesla Company's merchandising activities for year 2018 (it uses a per system). Cost of merchandise sold to customers in sales transactions Merchandise inventory, December 31, 2017 Invoice cost of merchandise purchases, gross amount Shrinkage determined on December 31, 2018 Cost of transportation in Cost of merchandise returned by customers and restored to inventory Purchases discounts received Purchases returns and allowances $ 196,000 25,000 192,500 800 2,900 2,100 1,700 4,000 Record the summarized activities in the T-accounts below. Merchandise Inventory Cost of Goods Sold A company reports the following sales-related information. $ Sales, gross Sales discounts $ 200,000 Sales returns and allowances 4,000 Sales salaries expense 16,000 10,000 Prepare the net sales portion only of this company's multiple-step income statement. Multiple-Step Income Statement (Partial) Net sales A company reports the following sales-related information. Sales, gross Sales discounts $ 200,000 Sales returns and allowances 4,000 Sales salaries expense $ 16,000 10,000 Prepare the net sales portion only of this company's multiple-step income statement. Multiple-Step Income Statement (Partial) Net sales