Use the following information to calculate net sales: Gross Sales, $300,000; Sales Returns and Allowances, $25,800; Sales Discounts, $35,700; Merchandise Inventory, January 1, 2012, $67,100; Merchandise Inventory, December 31, 2012, $52,900; Net Purchases, $89,200; Freight In, $700; Salaries, $81,800; Rent, $16,600; Utilities, $1,125; Insurance, $2,195; and Income Tax, $14,900.

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The Answer of Use the following information to calculate net sales: Gross Sales, $300,000; Sales Returns and Allowances, $25,800; Sales Discounts, $35,700; Merchandise Inventory, January 1, 2012, $67,100; Merchandise Inventory, December 31, 2012, $52,900; Net Purchases, $89,200; Freight In, $700; Salaries, $81,800; Rent, $16,600; Utilities, $1,125; Insurance, $2,195; and Income Tax, $14,900.

Use the Following Information to Calculate Net Sales: Gross Sales