Question - A company has provided the following information:
|
Cash sales
|
500,000
|
|
Credit sales
|
1,200,000
|
|
Selling & administrative expenses
|
250,000
|
|
Sales returns & allowances
|
100,000
|
|
Gross profit
|
900,000
|
|
Increase in accounts receivable
|
75,000
|
|
Bad debt expense
|
30,000
|
|
Sales discounts
|
50,000
|
|
Net income
|
750,000
|
How much are the company's net sales?