The adjusted trial balance of Novak Corp. shows these data pertaining to sales at the end of its fiscal year, October 31, 2022: Sales Revenue $907,200; Freight-Out $13,600; Sales Returns and Allowances $19,800; and Sales Discounts $15,200. Required:
Prepare the sales section of the income statement.

$872,200

Explanation:

Preparation of the sales section of the income statement.

NOVAK CORP Income Statement ( Partial)

for the year ended 31 Oct, 2022

Revenue [Net Sales]

Sales Revenue $907,200

Less:

Sales Return & Allowances($19,800)

Sales Discounts($15,200)

Net Sales $872,200

Therefore the sales section of the income statement is $872,200

the answer is i don't know

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.