Final Answer:Thenet salesfor the company can be calculated by subtracting the sales returns and allowances, sales discounts, and the cost of goods sold from the gross sales.Explanation:To calculate the net sales for the company, we need to follow a specific formula. Net sales arederivedby subtracting various deductions from the gross sales. These deductions typically include sales returns and allowances, sales discounts, and the cost of goods sold.First, let's calculate the sales returns and allowances. This is usually provided in thefinancial information and represents the total value of merchandise returned by customers or allowances made for damaged goods or otherdiscrepancies. To find this value, you can use the formula:Next, we calculate the sales discounts. Sales discounts are reductions in the selling price given to customers as an incentive for prompt payment. To calculate this, you can use the formula:Finally, we determine the cost of goods sold (COGS). COGS represents the direct costs associated with the production of the goods or services that have been sold during the accounting period.With these values calculated, we can now find the net sales by subtracting the sales returns and allowances, sales discounts, and the cost of goods sold from the gross sales:\[Net\:Sales = Gross\:Sales - Sales\:Returns\:and\:Allowances - Sales\:Discounts - COGS\]This result will give you the net sales portion of the company's multiple-step income statement. It's an essential figure for assessing the company's overallfinancialperformance.Learn more aboutnet salesbrainly.com/question/31764949#SPJ11...

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