91Ó°ÊÓ

Financial information means the data or information related to a company's monetary transactions or can be connected to an individual. This financial information helps the company know the financial position of the entity.

$\begin{array}{l}Sales\text{ }returns\text{ }and\text{ }allowances=Sales\text{ }revenue−Net\text{ }sales\\ Sales\text{ }returns\text{ }and\text{ }allowances=\$90,000−\$81,000\\ Sales\text{ }returns\text{ }and\text{ }allowances=\$9,000\\ \end{array}$

$\begin{array}{l}Gross\text{ }profit=Net\text{ }sales−Cost\text{ }of\text{ }goods\text{ }sold\\ Gross\text{ }profit=\$81,000−\$56,000\\ Gross\text{ }profit=\$25,000\end{array}$

$\begin{array}{l}Net\text{ }income=Gross\text{ }profit−Operating\text{ }Expenses\\ Net\text{ }income=\$25,000−\$15,000\\ Net\text{ }income=\$10,000\end{array}$

$\begin{array}{l}Sales\text{ }revenue=Net\text{ }sales+Sales\text{ }returns\text{ }and\text{ }allowances\\ Sales\text{ }revenue=\$95,000+\$5,000\\ Sales\text{ }revenue=\$100,000\end{array}$

$\begin{array}{l}Cost\text{ }of\text{ }goods\text{ }sold=Net\text{ }sales−Gross\text{ }profit\\ Cost\text{ }of\text{ }goods\text{ }sold=\$95,000−\$38,000\\ Cost\text{ }of\text{ }goods\text{ }sold=\$57,000\end{array}$