Fill in the blanks in the following separate income statements a through e. b. Sales $ 62,000 $ 43,500 $ 55,000 $ 25,600 Cost of goods sold Merchandise inventory beginning. 8,000 17,050 7,500 8,000 4,560 Total cost of merchandise purchases 38,000 32,000 6,600 Merchandise inventory ending 3,000 9,000 6,600 Cost of goods sold 34,050 16,000 7,000 Gross profit 12,750 45,600 10,000 10,650 12,150 3,600 6,000 Expenses Net income (loss) $16,850 $ 600 $ 42,000
Fill in the blanks in the following separate income statements a through e. b. Sales $ 62,000 $ 43,500 $ 55,000 $ 25,600 Cost of goods sold Merchandise inventory beginning. 8,000 17,050 7,500 8,000 4,560 Total cost of merchandise purchases 38,000 32,000 6,600 Merchandise inventory ending 3,000 9,000 6,600 Cost of goods sold 34,050 16,000 7,000 Gross profit 12,750 45,600 10,000 10,650 12,150 3,600 6,000 Expenses Net income (loss) $16,850 $ 600 $ 42,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Fill in the blanks in the following separate income statements a through e.
a
e
Sales
$ 62,000 $ 43,500 $ 55,000
$ 25,600
Cost of goods sold
Merchandise inventory beginning
8,000
17,050
7,500
8,000
4,560
Total cost of merchandise purchases
38,000
32,000 6,600
Merchandise inventory ending
3,000
9,000
6,600
Cost of goods sold
34,050
16,000
7,000
Gross profit
12,750
45,600
Expenses
10,000
10,650
12,150
3,600
6,000
Net income (loss)
$16,850 $
600
$ 42,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F05917d28-e2cf-446c-93d8-60aae139bb92%2F8f61d3f2-481d-4460-9014-734613f1ad8c%2Fhk60i54_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Fill in the blanks in the following separate income statements a through e.
a
e
Sales
$ 62,000 $ 43,500 $ 55,000
$ 25,600
Cost of goods sold
Merchandise inventory beginning
8,000
17,050
7,500
8,000
4,560
Total cost of merchandise purchases
38,000
32,000 6,600
Merchandise inventory ending
3,000
9,000
6,600
Cost of goods sold
34,050
16,000
7,000
Gross profit
12,750
45,600
Expenses
10,000
10,650
12,150
3,600
6,000
Net income (loss)
$16,850 $
600
$ 42,000
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