Answer:
$1,703,000
Explanation:
Cash sales = $470,000
Credit sales = $1,370,000
Selling and administrative expenses = $350,000
Sales returns and allowances = $92,000
Gross profit = $1,380,000
Increase in accounts receivable = $57,000
Bad debt expense = $35,000
Sales discounts = $45,000
Net income = $1,030,000
Net sales:
= Cash sales + Credit sales - Sales returns and allowances - Sales discounts
= $470,000 + $1,370,000 - $92,000 - $45,000
= $1,703,000
