Sunstar a boutique in Paris, had the accounts given below in its accounting records at December 31, 2012 (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, 2011 20,000
Purchase discounts 3,000 December 31, 2012 30,000
Sales returns 8,000 Administrative Expenses 20,000
Balance Sheet - December 31, 2011
Cash 10,000 Inventory 20,000
Owner's Equity 30,000
Calculate for Sunstar during 2012:
1) Net sales revenue
2) Balance sheet, December 31, 20X2
3) Gross profit
4) Net income
5) Cost of goods sold
6) Statement of Owner's Equity, December 31, 2012