Book Hint Print rences Exercise 4-1 (Static) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e. Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) $ 62,000 $ 43,500 $ 8,000 38,000 34,050 10,000 b $ 17,050 3,000 16,000 10,650 16,850 $ 55,000 7,500 9,000 12,750 12,150 600 $ d 8,000 32,000 6,600 45,600 3,600 42,000 $ e 25,600 4,560 6,600 7,000 6,000
Book Hint Print rences Exercise 4-1 (Static) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e. Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) $ 62,000 $ 43,500 $ 8,000 38,000 34,050 10,000 b $ 17,050 3,000 16,000 10,650 16,850 $ 55,000 7,500 9,000 12,750 12,150 600 $ d 8,000 32,000 6,600 45,600 3,600 42,000 $ e 25,600 4,560 6,600 7,000 6,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 4-1 (Static) Computing revenues, expenses, and income LO C1
Fill in the blanks in the following separate income statements a through e.
Sales
Cost of goods sold
Merchandise inventory, beginning
Total cost of merchandise purchases
Merchandise inventory, ending
Cost of goods sold
Gross profit
Expenses
Net income (loss)
$
b
62,000 $ 43,500 $
8,000
38,000
34,050
10,000
$
17,050
3,000
16,000
10,650
16,850 $
55,000
7,500
9,000
12,750
12,150
600 $
d
8,000
32,000
6,600
45,600
3,600
42,000
$
e
25,600
4,560
6,600
7,000
6,000
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