Evaluate the net sales revenue

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Reference no: EM1310293

Les Fleurs, a boutique in Paris, France, had the following accounts in its accounting records at December 31, 20X2 (amounts in Euros, denoted as "E")

Purchases 

E250,000

Freight In

E8,000

Sales discounts 

4,000

Purchase returns

7,000

Inventory 

 

Sales 

400,000

December 31, 20X1

20,000

Purchase discounts 

3,000

December 31, 20X2

30,000

Sales returns

8,000

Administrative Expenses

20,000

 

 

 

Balance Sheet - December 31, 20X1

Cash

10,000

 

Inventory

20,000

 

Owner's Equity

 

30,000

Compute the following for Les Fleurs during 20X2: (Do not convert the figures to US dollars.)

1.Net sales revenue 
2.Cost of goods sold 
3.Gross profit 
4.Net income 
5.Balance sheet, December 31, 20X2 
6.Statement of Owner's Equity, December 31, 20X2

Reference no: EM1310293

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