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) a $ 71,000 $ 8,600 58,000 33,650 29,000 $ b 44,000 $ 37,000 16,970 2,600 16,000 C 11,690 16,310 $ 5,100 8,700 14,250 12,900 1,350 $ d 7,100 25,000 5,900 42,800 3,600 39,200 $ e 26,900 4,320 5,800 7,700 6,900

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) a $ 71,000 $ 8,600 58,000 33,650 29,000 $ b 44,000 $ 37,000 16,970 2,600 16,000 C 11,690 16,310 $ 5,100 8,700 14,250 12,900 1,350 $ d 7,100 25,000 5,900 42,800 3,600 39,200 $ e 26,900 4,320 5,800 7,700 6,900

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 3E: Identify each of the following items relating to sections of an income statement as Revenue from...

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