Fill in the blanks in the following separate income statements a through e. a b C Sales 72,000 $ 44,500 $ 36,000 $ 25,200 Cost of goods sold Merchandise inventory, beginning 7,500 16,960 6,100 7,000 4,470 Total cost of merchandise purchases 58,000 37,000 6,800 Merchandise Inventory, ending 2,100 8,700 6,000 Cost of goods sold 33,390 17,000 7,800 Gross profit 13,850 47,600 Expenses 22,000 11,530 12,700 5,100 6,600 Net income (loss) $ 15,970 $ 1,150 $ 42,500
Fill in the blanks in the following separate income statements a through e. a b C Sales 72,000 $ 44,500 $ 36,000 $ 25,200 Cost of goods sold Merchandise inventory, beginning 7,500 16,960 6,100 7,000 4,470 Total cost of merchandise purchases 58,000 37,000 6,800 Merchandise Inventory, ending 2,100 8,700 6,000 Cost of goods sold 33,390 17,000 7,800 Gross profit 13,850 47,600 Expenses 22,000 11,530 12,700 5,100 6,600 Net income (loss) $ 15,970 $ 1,150 $ 42,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Fill in the blanks in the following separate income statements a through e.
a
b
C
d
e
Sales
$
72,000 $
44,500 $
36,000
$
25,200
Cost of goods sold
Merchandise inventory, beginning
7,500
16,960
6,100
7,000
4,470
Total cost of merchandise purchases
58,000
37,000
6,800
Merchandise inventory, ending
2,100
8,700
6,000
Cost of goods sold
33,390
17,000
7,800
Gross profit
13,850
47,600
Expenses
22,000
11,530
12,700
5,100
6,600
Net income (loss)
$
15,970 $
1,150 $ 42,500
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VIEWStep 6: Computation of the missing amounts for e
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