Question: Please explain how you got your answer. reported net sales of $11 million, cost of goods sold of $6.1 million, and net income of $865,000.

Please explain how you got your answer.

reported net sales of $11 million, cost of goods sold of $6.1 million, and net income of $865,000. The following table shows the company's comparative balance sheets for 2018 and 2017 3,7003,420 Total assets Liabilities and shareholders' equity $ 1,220 $1,099 Paid-in capital

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