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Hi, I need help. Can someone please tell me what the net (credit) sales are? I've been reading accounting websites and I still can't figure out how to determine the net (credit) sales from my income statement. I've read the definition and seen their examples but I don't understand how to apply it here. I am trying to find the Accounts Receivable turnover. The formula I am given to use is Net (credit) sales average net accounts receivable. I have copied and pasted the income statement and the balance sheet.

I have computed the average accounts receivable to be $5,251 for my current year. (5,157+5,344/2) and $5,314 for my Prior Year. I have to find Ratio Results for Current Year and Prior Year. Please explain how to get the net (credit) sales from the statements provided. Thanks.

Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jul. 25, 2015	Jul. 26, 2014	Jul. 27, 2013
REVENUE:
Product	$ 37,750	$ 36,172	$ 38,029
Service	11,411	10,970	10,578
Total revenue	49,161	47,142	48,607
COST OF SALES:
Product	15,377	15,641	15,541
Service	4,103	3,732	3,626
Total cost of sales	19,480	19,373	19,167
GROSS MARGIN	29,681	27,769	29,440
OPERATING EXPENSES:
Research and development	6,207	6,294	5,942
Sales and marketing	9,821	9,503	9,538
General and administrative	2,040	1,934	2,264
Amortization of purchased intangible assets	359	275	395
Restructuring and other charges	484	418	105
Total operating expenses	18,911	18,424	18,244
OPERATING INCOME	10,770	9,345	11,196
Interest income	769	691	654
Interest expense	(566)	(564)	(583)
Other income (loss), net	228	243	(40)
Interest and other income (loss), net	431	370	31
INCOME BEFORE PROVISION FOR INCOME TAXES	11,201	9,715	11,227
Provision for income taxes	2,220	1,862	1,244
NET INCOME	$ 8,981	$ 7,853	$ 9,983
Net income per share:
Basic (in dollars per share)	$ 1.76	$ 1.50	$ 1.87
Diluted (in dollars per share)	$ 1.75	$ 1.49	$ 1.86
Shares used in per-share calculation:
Basic (in shares)	5,104	5,234	5,329
Diluted (in shares)	5,146	5,281	5,380
Cash dividends declared per common share (in dollars per share)	$ 0.80	$ 0.72	$ 0.62
Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 25, 2015	Jul. 26, 2014	27-Jul-13
Current assets:
Cash and cash equivalents	$ 6,877	$ 6,726
Investments	53,539	45,348
Accounts receivable, net of allowance for doubtful accounts of $302 at July 25, 2015 and $265 at July 26, 2014	5,344	5,157	5,470
Inventories	1,627	1,591
Financing receivables, net	4,491	4,153
Deferred tax assets	2,915	2,808
Other current assets	1,490	1,331
Total current assets	76,283	67,114
Property and equipment, net	3,332	3,252
Financing receivables, net	3,858	3,918
Goodwill	24,469	24,239
Purchased intangible assets, net	2,376	3,280
Other assets	3,163	3,267
TOTAL ASSETS	113,481	105,070
Current liabilities:
Short-term debt	3,897	508
Accounts payable	1,104	1,032
Income taxes payable	62	159
Accrued compensation	3,049	3,181
Deferred revenue	9,824	9,478
Other current liabilities	5,687	5,451
Total current liabilities	23,623	19,809
Long-term debt	21,457	20,337
Income taxes payable	1,876	1,851
Deferred revenue	5,359	4,664
Other long-term liabilities	1,459	1,748
Total liabilities	$ 53,774	$ 48,409
Commitments and contingencies (Note 12)
Cisco shareholders equity:
Preferred stock, no par value: 5 shares authorized; none issued and outstanding	$ 0	$ 0
Common stock and additional paid-in capital, $0.001 par value: 20,000 shares authorized; 5,085 and 5,107 shares issued and outstanding at July 25, 2015 and July 26, 2014, respectively	43,592	41,884
Retained earnings	16,045	14,093
Accumulated other comprehensive income	61	677
Total Cisco shareholders equity	59,698	56,654
Noncontrolling interests	9	7
Total equity	59,707	56,661
TOTAL LIABILITIES AND EQUITY	$ 113,481	$ 105,070

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