Net sales on an income statement equal sales revenue reported by a company on its income statement.
Net sales are the company's total gross sales minus profits, discounts, and rebates.
- Calculating net sales is not always transparent to the outside world. They can often be included in the income statement above that is declared on the income statement.
- Gross sales value refers to the total revenue your business generates before discounts, returns, and subsidies. Using total sales, you can subtract all other deductions, such as discounts, returns, and allowances.
- For example, if you have total sales of $100,000 minus $2,000 in sales rebates, $1,000 in sales rebates, and $1,000 in sales returns, your net revenue is $96,000.
Learn more about Net sales here: https://brainly.com/question/14273499
#SPJ4
