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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