For each company, calculate the missing amount.Cost ofGoods SoldOperatingExpensesCompanySalesGross ProfitNet IncomeLennon$8,300$4,100 $• 2,600 $1,500Harrison8,7003,8001,9003,000McCartney8,3003,2005,1001,100Starr7,8002,0005,8003,000

Gross profit = Sales cost of goods sold Net income = gross profit - Operating expenses

For each company, calculate the missing amount. Cost of Goods Sold Operating Expenses Company Sales Gross Profit Net Income Lennon 24 8,300 2$ 4,100 $ 2,600 $ 1,900 1,500 3,000 Harrison 8,700 8,300 3,800 McCartney 3,200 5,100 1,100 Starr 7,800 2,000 5,800 3,000

For each company, calculate the missing amount. Cost of Goods Sold Operating Expenses Company Sales Gross Profit Net Income Lennon 24 8,300 2$ 4,100 $ 2,600 $ 1,900 1,500 3,000 Harrison 8,700 8,300 3,800 McCartney 3,200 5,100 1,100 Starr 7,800 2,000 5,800 3,000

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

For each company, calculate the missing amount.
Cost of
Goods Sold
Operating
Expenses
Company
Sales
Gross Profit
Net Income
Lennon
$
8,300
$
4,100 $
• 2,600 $
1,500
Harrison
8,700
3,800
1,900
3,000
McCartney
8,300
3,200
5,100
1,100
Starr
7,800
2,000
5,800
3,000

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