Compute the missing amounts in the separate income statements A, B, and C. Sales Cost of goods sold Gross profit Expenses Net income $ A 40,000 35,000 13,000 $ B 20,000 $ 11,500 6,000 $ 90,000 30,000 21,000

Compute the missing amounts in the separate income statements A, B, and C. Sales Cost of goods sold Gross profit Expenses Net income $ A 40,000 35,000 13,000 $ B 20,000 $ 11,500 6,000 $ 90,000 30,000 21,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Compute the missing amounts in the separate income statements A, B, and C.
Sales
Cost of goods sold
Gross profit
Expenses
Net income
$
A
40,000
35,000
13,000
$
B
20,000 $
11,500
6,000
$
90,000
30,000
21,000

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