Determine the missing data for each letter in the following three income statements for Fulco Company (in thousands): 2014 2013 2012 Sales P. H 1,144,000 Sales returns and allowances 96,000 76,000 А Net sales Q 1,268,000 B Merchandise inventory, beginning R 152,000 Purchases 768,000 676,000 Purchases returns and allowances 124,000 68,000 Freight-in S 116,000 88,000 Net cost of purchases 756,000 K D Cost of goods available for sale Merchandise inventory, ending 888,000 848,000 728,000 156,000 L 168,000 Cost of goods sold T 716,000 Gross profit 568,000 M 504,000 Selling expenses U 312,000 General and administrative expenses 156,000 132,000 Total operating expenses 520,000 512,000 G Net income V 108,000
Determine the missing data for each letter in the following three income statements for Fulco Company (in thousands): 2014 2013 2012 Sales P. H 1,144,000 Sales returns and allowances 96,000 76,000 А Net sales Q 1,268,000 B Merchandise inventory, beginning R 152,000 Purchases 768,000 676,000 Purchases returns and allowances 124,000 68,000 Freight-in S 116,000 88,000 Net cost of purchases 756,000 K D Cost of goods available for sale Merchandise inventory, ending 888,000 848,000 728,000 156,000 L 168,000 Cost of goods sold T 716,000 Gross profit 568,000 M 504,000 Selling expenses U 312,000 General and administrative expenses 156,000 132,000 Total operating expenses 520,000 512,000 G Net income V 108,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer for A, B,C,D,E,F,G,H,I,J,K,L,M,N,O,P,Q,R,S,T,U,V? Need help
Transcribed Image Text:Determine the missing data for each letter in the following three income
statements for Fulco Company (in thousands):
2014
2013
2012
Sales
P.
H
1,144,000
Sales returns and allowances
96,000
76,000
А
Net sales
Q
1,268,000
B
Merchandise inventory, beginning
R
152,000
Purchases
768,000
676,000
Purchases returns and allowances
124,000
68,000
Freight-in
S
116,000
88,000
Net cost of purchases
756,000
K
D
Cost of goods available for sale
Merchandise inventory, ending
888,000
848,000
728,000
156,000
L
168,000
Cost of goods sold
T
716,000
Gross profit
568,000
M
504,000
Selling expenses
U
312,000
General and administrative expenses
156,000
132,000
Total operating expenses
520,000
512,000
G
Net income
V
108,000
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